South Africa’s chrome sector, like its coal counterpart, is becoming increasingly opaque
By Ed Stoddard • 7 March 2021
──────────────────────────
Articles were too long to post complete…Following are just excerpts.
──────────────────────────
Mining consultancy AmaranthCX, using Google Earth and other sources, has put together a detailed map of South Africa’s chrome mining sector. It reveals at least 20 spiral or wash plants that are not located on any legitimate or regulated mine. The suspicions are that illicit ore is processed in some of these plants. The industry estimates that more than 10% of South Africa’s chrome exports are off the grid.
──────────────────────────
“It is incredibly concerning to the chrome industry – it is estimated that illegal mining could account for up to 50,000 tons in chrome ore exports per month,” ChromeSA, the main industry group, said in response to questions from DM168. ChromeSA also said it was likely that there were even more spiral plants out there than AmaranthCX’s findings suggest, which are “popping up on a regular basis to process material”.
──────────────────────────
“It mostly goes to China and there are also consignments to India … Illegal chrome mining is linked to organised crime because it is done on a massive scale,” Louis Nel, a security consultant specialising in illegal mining, told DM168.
──────────────────────────
Illegal chrome poses a number of challenges to legitimate industry players who do things like pay taxes, roll out social and labour plans and abide by environmental regulations. They include the likes of Anglo American Platinum, Assore, Bauba Resources, Northam Platinum, Sail, Sibanye-Stillwater, Siyanda Resources and Tharisa.
──────────────────────────
https://www.dailymaverick.co.za/article/2021-03-07-south-africas-chrome-sector-like-its-coal-counterpart-is-becoming-increasingly-opaque/
──────────────────────────
Evergreen Contract
By ADAM HAYES Updated Oct 31, 2020
What Is Evergreen Contract?
An evergreen contract automatically renews on or after the expiry date. The parties involved in the contract agree that it rolls over automatically until one gives the notice to terminate it.
Evergreen contracts are used for a number of different purposes including rental leases, purchasing contracts, and service agreements.
KEY TAKEAWAYS
• An evergreen contract is one that automatically renews after its initial term expires.
• The parties agree that the contract rolls over automatically and indefinitely until one gives the other notice to terminate it.
• Evergreen contracts are found in rental leases, service agreements, and purchasing contracts.
──────────────────────────
https://www.investopedia.com/terms/e/evergreen.asp
──────────────────────────
Pelagic Resources Secures Evergreen Chrome Ore Supply Contract Via 23% Acquisition of Bauba Resources
SINGAPORE, March 24, 2021 /EINPresswire.com/ — Physical commodity trading platform Pelagic Resources Pte Ltd (“Pelagic”) is proud to announce that they have acquired a strategic stake in Bauba Resources (“Bauba”) (JSX: BAU) through a share subscription.
──────────────────────────
https://www.energyindustrytoday.com/2021/03/24/pelagic-resources-secures-evergreen-chrome-ore-supply-contract-via-23-acquisition-of-bauba-resources/