A collaboration has been announced between one of the world’s great copper mines, Palabora Mining Co (Palamin), the Industrial Development Corporation of South Africa (IDC) and technology development company, Iron Mineral Beneficiation Services (IMBS) to explore the establishment of an iron-making facility Phalaborwa. IMBS technology would be used to beneficiate Palamin’s magnetite reserves.

“While continuing to investigate all options to extend the copper operation at the Phalaborwa site, Palamin has been investigating opportunities around the company’s 240 Mt magnetite stockpile as a means to extend life of mine,” said Managing Director, Matt Gili. IMBS has developed the Finesmelt™ technology, which allows the reduction of super-fine iron ore to a highly metallised iron product. This product can be briquetted as a feedstock for electric steel-making or can be further beneficiated by melting to produce steel products.

Gili said a number of synergies could be explored with IMBS. “These include brownfield site establishment and diversification within the existing Phalaborwa Industrial Complex. This long-term project will not only lead to significant job creation opportunities but will also have the environmental benefit of removing the substantial magnetite stockpile.”

IMBS chief executive officer John Beachy Head: “The IMBS technology has evolved to a stage where the next step is the establishment of a commercial-sized production unit. We have conducted considerable test work and analysis on various site options, both internally and with specialist advisors, and an operation at the Phalaborwa site is a logical choice. Our technology is imminently suited to the ore resource and our pilot plant test work shows excellent results using Palamin magnetite.” A project team has been put in place and is expected to deliver a detailed feasibility study by the end of 2010 for a 500,000 t/y ironmaking opportunity at Phalaborwa.