Executive Summary
Producing high quality PGMs and base metals Braemore Resources plc is an AIM-quoted company which has as its objective to develop into a top 10 international nickel and platinum group metals (PGMs) producer, initially from operations in Australia and South Africa. While Braemore is not currently involved in mining operations directly and intends expanding its direct exposure to mining operations in the future, its distinctive competitive advantage lies in the licensed process technology developed by Mintek.
Company History
Braemore developed into its current form through two important acquisitions in Australia and South Africa.
- In July 2005, through an exchange of shares, Braemore acquired all of the issued capital of Western Consolidated Nickel (WCN) Pty Ltd from Atomaer Holdings Pty Ltd. The nickel operations were originally established by Western Mining Corporation (WMC), now part of BHPB, in the 1960s.
- In South Africa, Independence Platinum Limited (IPT) was initially formed for the purposes of evaluating, establishing and operating independent base-metal refining facilities. The acquisition of IPT arose from Braemore exercising its rights to acquire nickel rights from Atomaer Holdings under the Share Sale Agreement for the purchase of WCN in May 2005. Braemore initially acquired 95% of IPT in December 2006 with a view to developing it as the first black-empowered independent PGM smelting and refining company. This subsequently increased to 100% in December 2007 to become the wholly-owned subsidiary, Braemore Platinum Smelters.
Current Events
Business Model
Production/Operations
In Australia, the company has acquired rights to reprocess nickel tailings to recover nickel metal at Leinster, Kambalda and Mount Keith, BHP Billiton's three principal nickel mines in Western Australia. These tailings have accumulated over the past 20 or more years and more will be produced over the mines' remaining lives. Here, Braemore's hydro-metallurgical process enables the recovery of nickel from low-grade tailings in a cost-effective manner.
In South Africa, its wholly-owned subsidiary, Braemore Platinum Smelters, has an exclusive licensing agreement to Mintek's innovative ConRoast process that overcomes the smelting problems that currently restrict the ability to conventionally smelt concentrates from ores that are high in chromite. The ConRoast technology also provides an environmentally friendly and cost-effective alternative to the current beneficiation processes in the PGM sector. Braemore is actively pursuing joint ventures and strategic alliances with emerging PGM and base metals producers and has already secured two agreements in South Africa.
Distribution/Routes to Market
Market & Competition
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Main Competitors
