Black Mountain Resources, an Australian mineral prospector and investor, has reported that Namakera Mine potentially holds about 62 million tons of vermiculite, making it financially viable for commercial mining. Namakera is located on the slopes of Mt Elgon in the Mbale-Tororo area.
Black Mountain Resources, an Australian Stock Exchange listed miner, said in its 11th January 2017 progress update that it had completed its exploration, drilling as well as sample verification. The company forecasts to have a new mining plan, which will open way for full scale mining in the second quarter of 2017.
The report said the maiden inferred mineral resource (exploration estimates) of 61.9-million tons with 18.2 per cent vermiculite grading, projects the mine to host some 11.3-million tons of contained Vermiculite.
Vermiculite is very versatile mineral because of its thermal stability and inertness. It is clean to handle, odourless and mould resistant and also sterile due to the high temperature to which it is subjected in productionis mainly used.
It is a multi-purpose mineral used in construction, industry and agriculture, among others. In industry it is mainly used for insulation, friction lining (such as in brake pads) and as absorbent packing for hazardous productions. In construction it is used for fire protection, roof and floor screeding and acoustic purposes. In Agriculture it is used in the making of fertilizer and feeds for animals.
Black Mountain acquired the Namekara mine in November 2016 from GLF Holdings, who themselves had acquired the mine from original prospector, another Australian mining giant, Rio Tinto.
Black Mountain has so far got the nod to export the mineral to European, Australian and Japanese markets.