Proactive Investors - Run By Investors For Investors

Ormonde looks forward to February start up at Barruecopardo tungsten mine

The project is on schedule and on budget with tungsten production to start in February
oil and gas operations
Everything is coming together at Barruecopardo

Ormonde Mining Plc (LON:ORM) continues to look forward to a February start-up at its 30% owned Barruecopardo tungsten mine.

The company, in a stock market statement, told investors that development schedule at the Spanish project has progressed in line with previous guidance.

It added, significantly, that the projected construction costs remain within the budget of €53.6mln.

READ: Tungsten prices are on the rise and Barruecopardo is proceeding apace

"With substantial progress made on construction activities during the quarter, the project has now entered a transition period as construction activities begin to wind down and mine commissioning activities ramp up significantly,” said Michael Donoghue, Ormonde’s chairman and interim managing director.

Recent progress has seen the commissioning of the crush and screen plant near completion, the completion of the water treatment plant and the dewatering of the historic pit is ongoing with over 100,000 cubic metres (about 10%) pumped from the pit to the water dams.

At the processing plant, the installation of equipment and supporting structures are said to be almost complete, pipe and electrical installation are described as very advanced and the commissioning has begun for some circuits.

Contracts have been awarded for the open pit mining, and, the workforce is being hired a trained.

Donoghue added: “It is particularly pleasing to have recently completed the recruitment of the first wave of plant operators, and to see the commencement of process plant commissioning.”

View full ORM profile View Profile

Ormonde Mining plc Timeline

Related Articles

Cobalt
November 28 2018
The junior miner is acquiring the Hautalampi nickel-copper-cobalt deposit in the historic Outokumpu mining camp of eastern Finland
Yaouré Gold Project in Côte d’Ivoire
April 03 2019
The company is expected to post its latest production figures later this month.
Lithium Australia aspires to ‘close the loop’ on the energy-metal cycle
March 12 2019
Recent results show high-quality lithium-ion batteries can be generated from mine waste using its process.

© Proactive Investors 2019

Proactive Investors 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