Aberdeen International Profile
Aberdeen International Inc., together with its subsidiaries, operates as a resource investment company and a merchant bank focusing on small capitalization companies in the metals and mining sector.
As of January 31, 2020, the company’s twenty publicly traded investments. It has equity investment portfolio consisted of nineteen publicly traded investments. It has twelve privately held investments.
The Smokey Hills Project, South Africa
The Smokey Hills mining area is located on the farm Maandagshoek 254 KT (Mineral Area 4) between the towns of Polokwane and Steelpoort, South Africa. The project is approximately 300 km north of Johannesburg, South Africa. The total surface area of the project is approximately 6.78 square kilo meters.
The company indirectly holds a 16.9% effective interest in the project through its shareholding of African Thunder. In South Africa, the project is owned by an incorporated joint venture company (the Smokey Hills JVCo). The Smokey Hills JVCo holds an 80% interest in the mining right over Mineral Area 4, which was granted in 2007. The South African government holds the surface rights to the project.
The Smokey Hills JVCo is required to make financial provision for the interim and final rehabilitation activities relating to mining activities on the site. This provision is reviewed annually for adequacy and amended to compensate for new activities and/or inflation. The project is subject to governmental royalties pursuant to the Mineral and Petroleum Resources Royalty Act (South Africa). The act requires all companies extracting minerals in South Africa to pay royalties at a rate of between 0.5% and 7% based on gross sales, less their allowable deductions, depending on the refined condition of the mineral resources.
Exploration, Development and Production
The Smokey Hills Project remains on care and maintenance. In the Smokey Hills Report, Minxcon estimates a mining life of 6.5 years, producing 2.9 million tonnes at an average 4E grade of 4.55 g/t.
History
The company was incorporated in 1987. It was formerly known as International Catalyst Ventures Inc. and changed its name to Aberdeen International Inc. in 2001.
