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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.

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Ormonde Mining plc Timeline

September 30 2016

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