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Market: TSX
Sector: General Mining
EPIC: ML
Latest Price: C$1.84  (2.22% Ascending)
52-week High: C$4.81
52-week Low: C$1.34
Market Cap: C$454.25M
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MERCATOR MINERALS LTD.
www.mercatorminerals.com
Engaged in the exploration and development of mining properties and is considered to be a development stage enterprise.
Full MERCATOR MINERALS LTD. profile here
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Mercator Minerals on track to boost copper-molybdenum production at Mineral Park

9th Feb 2010, 1:56 pm Mercator Minerals on track to boost copper-molybdenum production at Mineral Park

Copper-Molybdenum miner, Mercator Minerals (TSX: ML) has commenced commissioning of ‘Phase 1.5’ at its 100% owned Mineral Park Mine in Arizona.  Mineral Park is a Copper-Molybdenum mine which currently has a design capacity of 25,000 tons per day. 


Phase 1.5 is designed to lift capacity by approximately 27.5% to 32,000 tons per day by adding a second SAG mill plus related conveyor and pumping systems.  “The installation of the second SAG mill was completed late January and currently motor run-ins and belt aligning work are underway,” Mercator Minerals confirmed this morning in a statement to the Toronto Stock Exchange.


Commission is expected to take a few weeks, with the new 32,000 tons per day capacity ready in March.
Mercator also confirmed that Phase 2 is continuing on schedule.  Phase 2 includes the installation of ball mills, which is due for completion “around the end of the year”.


"Even though the mill commenced operations in April, Mineral Park produced more than 31 million pounds of copper, 1.9 million pounds of [molybdenum] and 200,000 oz. of silver. With the increased production from phase 1.5, we look forward to another record year and continued growth from Phase 2 and the El Pilar project,” said Mike Surratt, President and CEO of Mercator Minerals.


The copper-molybdenum-silver producer also confirmed that it had entered into a new off-take agreement with commodity trading group, Trafigura for 50,000 tons of copper concentrate to be delivered to domestic smelters in 2010. "This is a considerably better contract for us with the domestic shipping," noted Surratt.

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