Chrometco is pleased to advise that on Tuesday, 20 December 2011, the Department of Minerals Resources approved and granted the conversion of its old order mining rights for chromite on Rooderand 46JQ Portion 2 and the remainder thereof; ("Rooderand") into new order mining rights in terms of the Minerals and Petroleum Resources Development Act (MPRDA) Act 28 of 2002, effective until 19 December 2041.
Subsequent to the mining and mangement agreement with DCM Chrome (Pty) Ltd ("DCM") lapsing on 3 December 2011, Chrometco will continue chrome mining operations for the group's own benefit and Rooderand in January 2012.
Approval and granting of new order mining rights & continuation of mining activities at Rooderand