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Ironveld PLC on Friday reported that its subsidiary Lapon Mining Pty Ltd had commenced operations at its opencast mine in South Africa. The South Africa-focused mining company said a ‘successful first blast’ has cleared the initial production site, located on Altona Farm in the north-east province of Limpopo. Ironveld shares rose 7.8% to 0.055 pence each on Friday afternoon in London. The firm has a 50% stake in the Lapon magnetite project, a joint venture with Johannesburg-based Sable Exploration & Mining Ltd. Back in March, Ironveld described the venture as an equal partnership between Altona Processing Pty Ltd, a wholly owned subsidiary of Ironveld Holdings, and Sable subsidiary Lapon Plant Pty Ltd. The initial waste blast at Lapon is expected to have exposed around 3,000 tons of magnetite ore, which will be processed into dense media separation grade metal. Production is targeted to scale up to 20,000 tons of ore per month, by extending the production bench to 100 metres and establishing a second bench of the same length. Overlying waste rock will be removed to allow further blasting of the exposed iron ore in the week ahead, Ironveld said. ‘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,’ commented Chief Executive Kris Andersson. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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