REG - Ironveld PLC - Operational Update

IronveldAnnouncement

06/06/2025 07:00

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RNS Number : 7788L  Ironveld PLC  06 June 2025

6 June 2025

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

Ironveld PLC

Operational Update

Successful First Blast at Lapon Mining Opencast Operation

Ironveld PLC ("Ironveld" or the "Company"), the mining development company
focused on producing high-value strategic metals, is pleased to announce that
its South African subsidiary, Lapon Mining (Pty) Ltd, has successfully
completed its first blast at the planned opencast pit located on the Altona
farm.

The blast, which marks a significant operational milestone, was carried out by
a licensed drilling and blasting contractor under the supervision of Lapon
Mining's in-house team and Management. Approximately 1.5 tons of heavy ANFO
(emulsion) explosives were used to establish the initial production bench and
create a free face for the continuation of mining activities.

This initial waste blast is expected to have exposed approximately 3,000 tons
of unweathered magnetite ore, which will be subsequently blasted and
transported to the JV DMS processing plant for conversion into dense media
separation (DMS) grade magnetite.

Over the coming week, the overlying Gabro Norite waste rock will be removed to
the designated waste stockpile, enabling blasting of the exposed magnetite ore
into the pit and the commencement of consistent ore delivery to the DMS JV
plant, located just 2 kilometres from the Lapon mine site.

Lapon Mining is targeting production ramp-up to 20,000 tons of unweathered
magnetite ore per month. This will be achieved by extending the current bench
to 100 metres and establishing a second contiguous 100-metre bench, both of
which have already had topsoil and free-dig overburden removed and are ready
for the next phase of drilling and blasting.

Ironveld CEO, Kris Andersson, commented:

"We are very pleased to have completed our first blast successfully, and
safely. This represents a major step forward in developing a consistent and
scalable ore supply from the Lapon Mining operation. I commend the entire
mining team for their professionalism and efficient execution of this
milestone. With mining now underway and ore sales to the DMS plant set to
commence, we are well positioned to ramp up production and meet growing
demand. These developments reflect the success of our strategic investment and
development initiatives, which are now delivering tangible, value-accretive
results. I am extremely proud of the dedication and teamwork demonstrated
across both our mining and processing operations. We are operating with strong
positive momentum, and I am confident in our ability to continue delivering
and capitalising on the significant opportunities ahead."

 

For further information, please contact:

 

 Ironveld plc                                            c/o BlytheRay

 Kristoffer Andersson, Chief Executive Officer           +44 20 7138 3204

 Cavendish Capital Markets Limited (Nomad and Broker)    +44 20 7220 0500

 Derrick Lee / Adam Rae
 Turner Pope Investments (TPI) Ltd (Joint Broker)        +44 20 3657 0050

 Andrew Thacker / James Pope
 BlytheRay                                               +44 20 7138 3204

 Tim Blythe / Megan Ray

 

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