Business
National Nuclear Regulator Certification Received
National Nuclear Regulator Certification Received.
About this update from Kazera Global Plc
[{"type":"text","content":"\n\nThis announcement contains inside information\n \n15 August 2024\nKazera Global plc\n('Kazera' or 'the Company)\n \nNational Nuclear Regulator Certification Received\n \nMining and production of Heavy Mineral Sands to commence shortly\n \nKazera Global plc, the AIM-quoted investment company, is delighted to announce that it has received certification from the National Nuclear Regulator (\"NNR\") in South Africa, which enables its Whale Head Minerals project to imminently commence the mining and production of Heavy Mineral Sands (\"HMS\").\n \nBackground\nThe Company has a Mining Permit over a 5-hectare beach deposit of Heavy Mineral Sands (\"HMS\") in Alexander Bay, Northern Cape, South Africa which contains predominantly Ilmenite and Garnet, but with significant amounts of Zircon, Rutile and, to a lesser extent, Monazite.\n \nIn June 2023, whilst arranging test samples for interested off-takers, the Company identified that certain elements of the sands were radioactive. This required all mining operations to be suspended whilst necessary infrastructure and procedures were put in place to comply with the NNR's requirements for certification.\n \nThe Company subsequently built the required facilities and introduced the required operating protocols, with the NNR conducting a detailed review of its application for certification. This has culminated in the NNR granting the Company permission, following a final inspection of the Company's operations later this month, to commence mining and processing at its site.\n \nPotential Off Takers (\"POTs\")\nThe Company has remained engaged with several POTs in both South Africa and overseas who have approached the Company with a view to purchasing its HMS. With the NNR Certificate of Registration now in place, these discussions can be progressed, with samples expected to be provided to the POTs once mining and production commence towards the end of this month. Following the analysis of these samples, the Company expects to be able to finalise contracts with POTs.\n \nOfftake options open to the Company range from HMS product being sold as run of mine at the mine gate, to the introduction of a magnetic separator to sell specific minerals to end users. A potential offtaker has agreed, in principle, to finance this second option. The Company will...