Ridge Mining has increased the mineral resources at Blue Ridge by 72 per cent after announcing that its subsidiary, Blue Ridge Platinum, has completed the acquisition of SouthernEra Mining and Exploration South Africa (Semex).

Semex has a number of rights over land adjacent to the Blue Ridge known as the 'Millennium project', providing a significant opportunity for the sharing of infrastructure currently being developed at the mine.

According to Ridge Mining the acquisition means that the mineral resource at Blue Ridge will be increased by 72 per cent to reach an estimated 9.2 million ounces of pgm.

Terence Wilkinson, Chief Executive of Ridge Mining, said: "The acquisition of Millennium was provisionally agreed with Lonmin some time ago and the consideration included in the overall capital cost for the Blue Ridge Mine previously announced.

"Millennium represents a significant opportunity to expand production at Blue Ridge which is already mining ore onto a stockpile and is on schedule to ship its first concentrate in the final quarter of this year," he explained.

Source:

Acquisition of Millennium increases resources at Blue Ridge by 72% to 9.2 million ounces 4PGE
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