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South Africa

Steelpoortdrift Project

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Summary

Mine TypeOpen Pit
Study CompletedFeasibility
StagePermitting
Commodities
  • Vanadium
Mining Method
  • Truck & Shovel / Loader
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SnapshotThe Steelpoortdrift Project initially was divided into two separate surface localities namely, the mine/concentrator site, and the SRL (Salt Roast Leach Plant), located approximately 23km apart by road.

In September 2024 Vanadium Resources decided to relocate SRL plant to the Mine and Concentrator site.

The SRL plant and its related activities, now planned to be at Steelpoortdrift, will need an integrated environmental authorisation (IEA) and Water Use Licence (WUL). A scoping process and environmental impact assessment process will be required for the application and the timing for this process is estimated to be between 10 to 12 months.

As of April 2025, the majority of the engineering work has already been undertaken for the SRL plant and is expected to be readily incorporated on to the Steelpoortdrift site. As a result of all the above changes and subject to funding, construction would be able to start on the SRL site as soon as the IEA and WUL have been granted.

Owners

SourceSource
CompanyInterestOwnership
Black Economic Empowerment(B-BBEE Commission) 13.51 % Indirect
Vanadium Resources Ltd. 86.49 % Indirect
Vanadium Resources Limited owns 86.49% of the Steelpoortdrift Vanadium Project.

Contractors

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Deposit type

  • Intrusion related

Summary:

The Steelpoortdrift Project is located within the Eastern Limb of the Bushveld Complex which is the world’s largest igneous intrusion and spans approximately 450km in width, 66,000km2 in area and up to 9km in thickness. Stratigraphically, the Bushveld Complex is comprised of three intrusive suites, namely the Rustenburg Layered Suite (“RLS”), Rashoop Granophyre Suite and the Lebowa Granite Suite.

The RLS is host to mafic layers rich in platinum group elements (“PGEs”), nickel, copper, chromium and vanadium. The RLS is sub-divided into four stratigraphic zones namely the Upper Zone, Main Zone, Critical Zone and Lower Zone. Only the Upper Zone is of relevance to the Steelpoortdrift Project and comprises a layered succession of ferrogabbros, troctolites, anorthosites and magnetite layers.

The Bushveld Complex is a saucer-shaped, layered igneous intrusion emplaced as multiple injections or pulses of sulphide rich magma. Crystal fractionation of the magmas into immiscible silicates and sulphides formed the layering. The sulphides scavenged the PGEs and other metals from the melt and deposited them into the sulphide layers. The layers or reefs are typically gently dipping tabular bodies, which are identifiable across hundreds of kilometres.

Vanadium predominantly reports, but not only, to the magnetite layers, with controls on mineralisation being related to oxygen fugacity and temperature of the melt. Vanadium mineralisation occurs within four vanadiumbearing titano-magnetite-rich layers which are located at the base of the Upper Zone. A distinct anorthosite layer is present near the contact with the Main Zone. Previous work focussed on the various layered zones or units present namely; the Main Magnetite Layer Mineralised Zone (“MMLZ”), the Upper Mineralised Zone (“UMZ”), the Intermediate Mineralised Zone (“IMZ”) and the Lower Mineralised Zone (“LMZ”), with average thicknesses of 5m, 19m, 14m and 12m, respectively. These units are each comprised of varying thicknesses magnetite, magnetite gabbro, gabbro and anorthosite.

Dimensions
The UMZ and LMZ have been mapped along strike (NW-SE) for approximately 4km and intersected in drilling for approximately 1.7km to the SW (distance from outcrop to furthest drilling. The thickness of the layers ranges from 5m to 37m (not true thickness).

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnitsAvg. AnnualLOM
V2O5 kt 19484
All production numbers are expressed as flake.

Operational metrics

Metrics
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Ore tonnes mined, LOM  ....  Subscribe
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* According to 2022 study.

Production Costs

CommodityUnitsAverage
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* According to 2022 study / presentation.

Operating Costs

CurrencyAverage
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* According to 2022 study.

Project Costs

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Pre-tax NPV @ 7.5% $M USD  ......  Subscribe
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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 4, 2022
....................... Subscription required ....................... Subscription required Subscription required May 31, 2025
....................... Subscription required ....................... Subscription required Subscription required May 31, 2025

Workforce

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