Ironveld PLC has signed a binding term sheet with Daemaneng Minerals, appointing them as the exclusive manager of operations at its joint-venture DMS plant. Daemaneng will fund all capital and operational expenditure, with Ironveld and DMS plant JV partner Sable Platinum Holdings benefiting from production upside without capital or operating exposure. The plant is projected to reach a sustained production rate of approximately 6,000 tonnes per month within three months, expanding to 15,000 tonnes per month by April 2026, dependent on market demand. Daemaneng will provide an initial prepayment of ZAR 1.6 million, split equally between Altona and Sable. Daemaneng will mobilise its equipment to the plant and mine site by the end of this week.
