Berong Nickel Corporation: Mine Reopening
(Thomson Reuters ONE) -
Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
Berong Nickel Corporation: Mine Reopening
Further to the announcement of 7 April 2011, Toledo is pleased to announce that
the mining plan for the Berong nickel mine has now been finalised with its joint
venture partners. Berong Nickel Corporation ("BNC") has mobilised equipment to
site in preparation of ramp up to full production by mid June 2011.
BNC is targeting production of 500,000 wet metric tonnes ("wmt") of nickel ore
by 31 December 2011 and aims to ship 300,000wmt by 31 September 2011 when the
shipping window closes. The remaining target of 200,000wmt, planned for
production in the last quarter of the calendar year, is targeted for shipping
from 1 March 2012 when the shipping window reopens.
As previously advised, BNC will use the proceeds from the sale of the existing
stockpile to provide working capital to support the resumption of operations.The
first shipment of 50,000wmt of nickel ore from the existing stockpile at the
Berong mine is scheduled to begin loading the week commencing 6 June 2011.
A full operational update will be provided to shareholders in due course.
Notes to editors:
The Berong mine is held by the Berong Nickel Corporation, which is a Joint
Venture with the following economic interests: Toledo Mining Corporation plc
(56.1%), Atlas Consolidated Mining and Development Corporation (25.2%) and
European Nickel plc (18.7%).
For further information, please visit www.toledomining.com or contact:
Reg Eccles, Chairman, Toledo Mining Corporation
+44 (0) 20 7514 1480
Katie Grinham, Toledo Mining Corporation
+44(0) 7958 765 745
Anthony Rowland / Jen Boorer, Ambrian Partners Ltd
+44 (0) 20 7634 4858
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Toledo Mining Corporation PLC via Thomson Reuters ONE
[HUG#1519321]
Unternehmensinformation / Kurzprofil:
Datum: 27.05.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 55063
Anzahl Zeichen: 2644
contact information:
Town:
LONDON
Kategorie:
Business News
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"Berong Nickel Corporation: Mine Reopening"
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