“Ferrochrome (FeCr) prices recently hit a high of US$1.20 per lb, a considerable increase from the 10-year low of US$0.55c per lb in mid 2016.”
EESTech has maintained a presence in South Africa for the past 6 years, directing its resources towards the successful development of a proprietary reclamation and remediation process solution specific to the management of FeCr slag waste.
This advanced reclamation process has uniquely positioned EESTech with a capability to cost effectively recover residual FeCr metal from slag waste. This capability has been engineered to process up to 220 tons of slag waste per hour with an annual yield potential of 140,000 tons of recovered FeCr metal.
EESTech’s proprietary process neutralizes FeCr slag waste dumps to significantly reduce their environmental impact, taking what was once a liability and turning it into a balance sheet asset. EESTech is positioned to provides a “no cost” reclamation and remediation service to FeCr producers and slag waste dump owners by generating a profitable income from the sale of recovered FeCr metal and thereby driving the potential of real revenue growth for the company.
South Africa has approximately 80% of the world’s commercially mineable chromite ore reserves and produces over 40% of the world’s annual 12 million tons of FeCr production. Eighty percent of all FeCr is utilised in the production of stainless steel which comprises 15-20% FeCr.
If there is no FeCr there is no stainless steel, this has resulted in FeCr maintaining a robust market price in comparison to other metal commodities.
The smelting of chromite ore produces FeCr metal and slag waste. More than 200 million tons of slag waste is estimated to exist in waste dumps across southern Africa. All slag waste dumps contain a residual percentage of FeCr metal that generate leachates which contaminate the surrounding environment, waterways and underground reservoirs. Slag waste dumps are deemed by Government environmental agencies to be a significant environmental liability, a liability that remains the responsibility of FeCr producers and slag waste dump owners.
EESTech has been acknowledged by leading FeCr producers as setting a new benchmark for the economic and environmentally sustainable management of FeCr slag waste, a capability that has positioned EESTech to where it is currently in an advanced stage of contract negotiations with a number of South Africa FeCr producers.