Free press releases distribution network?

Agency / Source: Great Dykes Mining Company (Pty) Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Great Dykes Mining Announces Project Milestone - The US$8 Billion Bushbuckridge Stainless Steel Macro Beneficiation Project passes the Proof of Concept milestone - GreatDykes.com
Great Dykes Mining Announces Project Milestone

 

PRZOOM - /newswire/ - Fourways, Gauteng, South Africa, 2015/12/07 - The US$8 Billion Bushbuckridge Stainless Steel Macro Beneficiation Project passes the Proof of Concept milestone - GreatDykes.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

After two years of proof of concept studies, Great Dykes Mining is happy to announce that the 5 million tons per annum Bushbuckridge Stainless Steel Project has passed all criteria set for Proof of Concept with flying colours and position SA based proposed mill as a “world lowest cost producer with global competitive edge”.

The project will create 10 000 permanent jobs at operational phase and 30 000 artisanal jobs at construction phase.

The proof of concept study was completed in July 2015, the project is now progressing to Prefeasibility stage with Bankable Feasibility studies projected to be completed by third quarter 2017.

The Stainless Steel mill is planned to be located in Bushbuckridge situated in Mpumalanga Province of South Africa, this location is informed by the closer proximity of Stainless Steel making raw materials and high unemployment rate with 60% being youth amongst others.

The Proof of Concept operating data was provided by Danieli S.P.A., one of the leading steelmaking engineering companies in the world with rigorous financial analysis conducted by the EPCM contractors to the project Royal HaskoningDHV Netherlands.

“We could never have achieved the rigorous and thorough analysis of the proof of concept that we have managed without the assistance of our Technology providers and EPCM consultants. We have had the benefit of the support and advice of the Industrial Development Corporation of South Africa who have been positively supportive of the process and are now reviewing the Proof of Concept data with a view to becoming involved in the funding and ownership of the project amongst support and endorsements from 3 tiers of government” says CEO Harold Mogoru-Vermaak.

The Program Director, Dr. Jo Kruger, confirmed “We are very happy with the outcome. At the initial stage of any project you only have a concept. To see the concept unfolding as a confirmable reality creates an enormous amount of enthusiasm in our team and our stakeholders. The operations will increase South African GDP by R450 billion or a net increase excluding imported input materials of R230 billion; turnover contribution to GDP of R130 billion

The proof of concept financial analysis model reflects, amongst other criteria, a forecast of 21% average EBITDA margin - a value very comfortably at the top of the sustainability index for such plants which is benchmarked at 16%, and an IRR of 24% based upon a 20 year life, moving to 27% based upon a more commonly experienced extended life.” he added.

The 5 million per annum production output is targeted primarily at the export market and informed by global Stainless Steel consistent demand exhibited during the past 50-60 years, of 5% per annum year on year and the South African NDP objectives.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Great Dykes Mining Company (Pty) Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Mining/Metal/Mineral articles,
CATCH Visitors via Your Competitors Announcements!


Great Dykes Mining Announces Project Milestone

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Harold Vermaak - GreatDykes.com 
+27(0)11 0469614 admin[.]greatdykes.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Great Dykes Mining Company (Pty) Ltd securities in any jurisdiction including any other companies listed or named in this release.

Mining/Metal/Mineral via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From Great Dykes Mining Company (Pty) Ltd / Company Profile


Read Mining/Metal/Mineral Most Recent Related Press Releases:

Boliden Selects Metso to Supply Equipment for A New Surface Crushing Station to Aitik Copper Mine in Sweden
Metso's Upgraded PlantTriage Software Simplifies Real-time Performance Management and Strengthens Cybersecurity
Metso Supplies Key Minerals Processing Equipment to Tibet Julong Copper for One of the Largest Greenfield Copper Projects in the World
Metso's Reliable Neles BWX Butterfly Valve Meets Requirements of Various Process Industries
Metso Introduces Integrated Approach for In-the-pit Operations
Metso Introduces Advanced Solutions for Fine Classification in Wet Minerals Processing
Rockwell Automation Outlines Steps for Achieving a Connected Mine
Metso Signs Landmark Deal with the World's Largest Copper Miner Codelco in Chile
Metso to Continue the Exclusive Lokotrack Distributor Agreement with Garriock Bros in the UK
Steel Dynamics, Inc. Wins Metals Company of the Year - Platts Global Metals Awards

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  JobsWare.com

Visit  Triggr & Bloom

Visit  La Bella Bakery Artisan Bakery Arizona







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today