Construction at Medusa Mining’s (ASX:MML) new service shaft at the Co-O mine in the Philippines is making good progress.
The new shaft will drop to 400 metres underground and provide access to the mine between levels 3 and 8.
It will increase hauling capacity from level 8 to around 1,700 dry tonnes a day (dptd) from 1,400 and lift the total mine capacity to around 2,700dptd from all shafts.
The rope guided man-cage is on track to be installed in the second quarter next year and once that is done all men and material movement will be transferred to the new shaft from the L8 Shaft.
The L8 shaft will then be used exclusively to hoist ore to attain the 1,700 tonnes per day haulage target.
Geoff Davis, Medusa’s chief executive, said: “The construction of the Service Shaft has got off to a great start and should be completed within the estimated timelines with all long lead times items ordered and being manufactured.”