VSK Mining of Austria has announced that its surveys, which cost €20million, have confirmed significant reserves of soapstone, also known as steatite, in Gemerska Poloma in Slovakia.
VSK Mining of Austria has announced that its surveys, which cost €20million, have confirmed significant reserves of soapstone, also known as steatite, in Gemerska Poloma in Slovakia.
The company has said that it is most likely the third biggest site in the world with 5-8million tonnes of ore.
The Austrian company now wants to spend another €20 million on launching the mining, and building a processing plant near the mine. The launch is expected in 2014.
VSK plans to extract about 100,000 tonnes of soapstone per year and generate revenues of €20-30million per year. Its goal is to have a 20% share in the global market.
The project will create about 100 new jobs.
Soapstone is used in production of plastic and paper products as well as in the pharmaceutical industry.
