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General mining & base metals

Xtract Resources yet to re-start Chepica processing

Two staff died in an accident at the plant in December, which led to its closure for remedial work

Xtract Resources (LON:XTR) is still waiting for final approval to re-start processing at its Chepica mines in Chile.

Two staff died in an accident at the plant in December, which led to its closure while remedial work was undertaken.

That work has been completed but sign off requires another visit from Chile’s Inspector of Mines.

Underground mining and blasting has continued without interruption, it said, with the ore mined continuing to be stockpiled.

Xtract added that the capital gains tax due on its Manica gold project acquisition in Mozambique had been set at US$699,000, which it will pay alongside a further US$51,000 to Auroch, the vendor.

In South Africa, results from metallurgical tests on the Carolusberg and O'Kiep copper tailings dumps are due within the next two weeks.

Xtract’s decision on whether it will take up its option on the two dumps will be included in the next quarterly statement due on 3 February.

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