Nedlands Pacific, an engineering consulting company, estimates that Hartley could support a 2- million-tonne-per-year mining and milling operation. Such a rate would yield annual production of 120,000 oz platinum, 95,000 oz palladium, 20,000 oz gold, 3,000 tonnes nickel and 2,000 tonnes copper. By the end of 1991, the operation is targeted to process one million tonnes increasing to full capacity by 1992.
Delta’s biggest unknown has been financing. Company officers have been busy negotiating for funding, which will range from $150-$250 million. A major determinant as to how much capital will be required depends on negotiations with the owners of smelting and refining plants in Zimbabwe. If favorable smelting contracts cannot be had, Delta will have to build its own facility — an event which would dramatically increase capital costs.
According to Menell, Delta’s game plan entails a public float of Hartley Platinum Mines Plc, which would hold the Hartley platinum deposit. Local Zimbabwean investment might also be allowed, Delta feels. As a potential source of employment for up to 5,000 people, the project would make a significant impact on the local economy. As a result, the government is considering removal of current restrictions to foreign investment.
Hartley, with a 30-year mine life, is found in the layered rocks of the Hartley Complex, a package of rocks associated with the Great Dyke. The Great Dyke is one of the largest intrusive dyke structures in the world, striking for many miles across Zimbabwe. Mining would be via open pit and vertical shaft.
A potential black cloud over not just the Hartley project, but every platinum development, is the announcement by the Ford Motor Co. that its engineers have found a low- cost substitute for platinum in automotive catalytic converters. Ford plans to have the new converters installed on some 1989 models.
Despite the potential setback to future demand for platinum, Hartley, with its large reserve base and potential low mining costs, still represents an immense resource.
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