The company has defined three strategic development projects.
FIRST PROJECT: INCREASE IRON ORE CONTENT
The project aims to increase the average iron (Fe) content of the hematite products to ~65 per cent from the current average grade of ~63 per cent. This will enable the product to be linked to a premium grade price index rendering increased price for the hematite products. Substantial R&D efforts will be allocated to this project. Pilot scale testing is in progress and installation of new process equipment is expected around year-end, followed by additional R&D and associated test work.
SECOND PROJECT: EXPAND CAPACITY FOR MAGNETITE PRODUCTION
M40 is a unique natural chemical free high-grade magnetite concentrate with demand exceeding the supply. This product is not subject to the fluctuating price curve seen for iron ore concentrates supplied to the steel industry. The target is to increase the M40 volume by 50 per cent in order to supply the high demand.
THIRD PROJECT: ELIMINATE CO2 EMISSIONS
Rana Gruber’s mining operations currently have one of the lowest carbon emissions in the industry, but the company aims to reduce CO2 emission even further. This will be done by substitution of fossil energy powered equipment with electrical alternatives. This project contributes to the emerging move towards sustainable supply chains within the steel industry, improved work environment from cleaner air, as well as reduced operational expenses.