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The bulk of South Africa’s existing iron-ore resources in the Northern Cape would be depleted in the next 30 years and the country would have to find new sources, VMI Investment Company exploration manager Dr Luke Longridge said during the fourth Africa Iron Ore Conference.

He stated that the Bushveld Complex, stretching across Limpopo, Mpumulanga and the North West province, potentially had more than 20-billion tons of resources in the form of titanium magnetite deposits in its upper zone. 

“These deposits, although large, laterally extensive and shallow, present technical challenges that need to be looked at before they can become viable producers of iron,” he told delegates at the conference.

Longridge explained that the low-grade nature of the ore and the high titanium contents of the magnetite presented an economic challenge that required additional beneficiation.

“There are 20 magnetite layers that have been identified in the northern limb of the complex, ranging in thickness from between 20 cm to tens of metres associated with titanium and vanadium,” he said.

He pointed out that the complex is divided into a number of zones, with most platinum and chrome deposits found in the lower zone.

“Pricing the ore depends on the value that can be extracted from titanium and vanadium in addition to the iron-ore, as well as what the possible penalties are that might have to be paid for the presence of titanium and palladium in the iron-ore,” he added.

Meanwhile, Bushveld Minerals CEO Fortune Mojapelo told delegates at the conference that the company was in the process of developing three key platforms – iron-ore, tin and coal.

“The idea behind the platform approach is that each commodity is different and it is important to treat them separately,” he stated.

The company felt the Bushveld Complex had titanium and palladium resources that occurred at excellent grades. “We believe we have the makings of a very interesting downstream iron-ore, palladium and titanium province,” said Mojapelo.

• [Editor:Sophie]