Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Ormonde Mining faces Barruecopardo delay

Ormonde will prioritise works on lands where it has full access and will temporarily defer works elsewhere
Ormonde Mining faces Barruecopardo delay
Earthworks will be focus in coming weeks

Ormonde (LON:ORM) has reported a hiccough in building at its Barruecopardo tungsten mine in Spain after an objection was made to its compulsory land purchase plans.

The tungsten group said 96% of its 'option to purchase' agreements has been exercised, but a third party appeal to one part of the process would mean a delay in its completion.

These developments are expected to have an impact on the schedule for commissioning at Barruecopardo, it added.

As a result, Ormonde will prioritise works on lands where it has full access and will temporarily defer works elsewhere, including construction of the process plant.

In coming weeks. the focus will be onsite earthworks compaction trials and commencement of water dam construction works. 

A further announcement will be made once there is greater clarity on completion of the compulsory acquisition process, it added.

Steve Nicol, Ormonde's managing director, said it had passed a number of key milestones in recent months including the placement of 100% of Priority 1 and 60% of Priority 2 equipment orders and the award to Fairport Engineering of the construction management contract.

Certain activities will now being advanced consecutively rather than concurrently, he added.

PhilW.jpg
Why Invest In Ormonde Mining plc? Read More Here

Register here to be notified of future ORM Company articles
View full ORM profile

Ormonde Mining plc Timeline

Newswire
September 30 2016

Related Articles

excelsior_mining.png
April 04 2017
Excelsior released a feasibility study showing its Gunnison Copper Project with a pre-tax NPV of US$1.17bn.
picture of uranium barrels
January 23 2017
A recent decision by Kazatomprom to curtail production from its Kazakh mines by 10% can spark a recovery
electric cars charging
April 10 2017
The explorer has just signed an off-take deal at Sonora which will 'significantly de-risk' the lithium project

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use