Move for first pure metals refinery plant
ONE in the four selected coastal areas of South Africa stands to be home to the $1,2billion world's first integrated pure metals refinery plant producing titanium, zirconium, magnesium and silicon, on completion of the feasibility study.
Rare Metals Industry (RMI) is a consortium made up of the locally-based multi-billion rand National Empowerment Fund and the Industrial Development Corporation, and also includes Magnesium and Metals Ltd, an American and Russian consortium, as well as another SA-based TJTI.
The consortium invested R40million in the study.
RMI's project chairperson Donovan Chimhandamba said the project would create 2800 skilled-jobs during its construction phase and in excess of 5000 jobs once the plan becomes operational in 2014.
The potential locations for the plant were Saldanha Bay, East London, Port Elizabeth and Richards Bay.