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Steenkampskraal Rare Earth Mine Prepares For AIM And JSE Listing

By: Get News

Cape Town – Steenkampskraal Holdings Ltd (SHL), the world’s highest grade rare earth mine, has made three key appointments to proceed with the development of the Steenkampskraal rare earth mine situated in the Western Cape of South Africa and in preparation for a potential listing on London’s AIM and the JSE.

“SHL has all the regulatory approvals required to commence mining and to produce monazite concentrate. Management is also discussing and negotiating offtake agreements with numerous prospective customers. SHL plans to raise equity funding through a pre-IPO and IPO on the London AIM market and a secondary listing on the Johannesburg Stock Exchange,” explained Trevor Blench, SHL chairman.

Graham Soden has been appointed a director and Steenkampskraal mine manager. Mr Soden is a mining engineer with a number of years’ experience as project manager and as a mine manager.

“Mr Soden has prepared bankable feasibility studies, mining work programmes (MWPs) and environmental management programmes as well as completing the revision of the Mine Work Programme (MWP) for the Steenkampskraal mine submitted to the Department of Mineral Resources and Energy (DMRE) in April 2022,” Mr Blench said.

Timothy Crombie has been appointed a Steenkampskraal director and project manager. He is a chemical engineer and has worked as a physical sciences teacher, a renewable energy project developer and a data scientist. He was involved in the preparation of tenders for South Africa’s REI4P programme and has experience in the technical, legal, environmental, financial, and socio-economic aspects of utility-scale projects. Mr Crombie is also a shareholder in SHL through his investment company, Monoceros Mineral Resources (MMR).

Megan Korber has been appointed SHL legal advisor. Ms Korber has a BA LLB and is an Admitted Attorney of the High Court of South Africa. Her experience includes recruitment, employment contracts, commercial agreements, due diligence reviews and investment regulations.

Ms Korber has experience in dispute resolution, and mergers and acquisitions at a Big 5 South African law firm and in technology-augmented commercial legal services at a top-tier international law firm. She is also manager of SHL’s Social and Labour Plan.

Steenkampskraal, as the highest-grade rare earth mine in the world, has an indicated NI 43-101 Mineral Resource Estimate average grade of 14.4% TREO (total rare earth oxides). The resource contains all the magnetic rare earths used to make motors for electric vehicles and wind turbines, these include neodymium, praseodymium, dysprosium and terbium.

The combined grade of these four magnetic rare earths at Steenkampskraal is 3.49%, which is higher than the total rare earth grades in most other rare earth projects.

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Media Contact
Company Name: Steenkampskraal Holdings Lld
Contact Person: Carol Vermaak
Email: Send Email
State: Western Cape, 7130
Country: South Africa

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