LionOre Mining International Ltd.: Project 5 Million at Tati Nickel Completed Ahead of Schedule and Within Budgetadmin
LionOre Mining International Ltd. announce the successful completion of Project 5 Million’s construction and commissioning phases, within budget and ahead of schedule, at Tati Nickel in Botswana.
Project 5 Million (see press release dated September 14, 2005) is a low capital cost expansion program designed to increase production from the design capacity of 12,500 to 14,500 tonnes of payable nickel per annum through increasing the Phoenix mine’s ore processing capacity from 3.6 million tonnes to 5 million tonnes per annum.
The expansion was designed in association with third party consultants after extensive live testing to reduce project risk. The plant expansion was achieved by making modifications and upgrades to the existing crushing and concentrator circuit to remove bottlenecks. The total capital expenditure was US$19 million, 5% under budget.
The project timetable planned for construction and commissioning to be completed by the end of the second quarter 2006, project ramp-up during the third quarter and implementation over the fourth quarter 2006. The Project is now producing at designed throughput rate and at above planned recoveries. During the third quarter 2006, the mine will continue to optimize the plant and the new circuit to further enhance the throughput rate and metal recoveries. Production for Tati for the first half of this year is still targeted at 5,200 tonnes of payable nickel.
Commenting on the project, Colin Steyn, President and Chief Executive Officer of LionOre said, “Project 5 Million was an important and necessary expansion program for Tati, as it provides the foundation for the planned ActivoxÂ® and Dense Media Separation projects. It is encouraging that the project was delivered ahead of schedule and under budget.”
LionOre is an international nickel producer with operations in Western Australia, South Africa and Botswana and a gold mine in Western Australia. The Company also owns a proprietary and environmentally friendly hydrometallurgical process called ActivoxÂ®.
The Tati Nickel operations, 85% owned by LionOre, consist of the producing Phoenix nickel mine, the Tati concentrator plant, the Selkirk deposit (under exploration) and the ActivoxÂ® Phase 1 plant, a proprietary, low cost, environmentally friendly, hydrometallurgical facility producing nickel and copper cathodes.
Contacts: LionOre Mining Colin Steyn CEO & President
+44 (0)20 7590 8888
LionOre Mining Ted Mayers CFO
+1 (416) 777-1985 / 1670
LionOre Africa Peter Breese Managing Director
+27 (0)11 463 4223
LionOre Mining International Ltd. 20 Toronto Street, 12th Floor, Toronto, Ontario M5C 2B8 Canada +1 (416) 777-1985 +1 (416) 777-1320 (FAX) firstname.lastname@example.org