Montero Strengthens Technical Team to Advance the Mineral Processing and Hydrometallurgical Work on Ore from the Wigu Hill Rare Earth Project in Tanzania
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/13/11 -- Montero Mining and Exploration Ltd. (TSX VENTURE: MON) ("Montero") has assembled a highly experienced team of mineral processing and chemical engineers including Geoff Skelton, former head of development at the Impala Platinum hydrometallurgical refinery and Richard Amata, former Senior Chemist with Molycorp Minerals Inc. The team is comprised of in-house employees and consultants to support the development of a rare earth metals separation refinery to process ore material from the Wigu Hill Rare Earth Element Project in Tanzania.
The team will work together with Mintek, Montero's Research provider and partner to support further research and development on the hydrometallurgical processes, minerals processing for the mining operation and to develop Montero's approach to the rare earth separation stage refinery and requisite test work campaign. Montero's team is committed to optimizing the metallurgical process flowsheet focused on implementing the most cost effective metallurgical process to minimize refinery costs and provide the best return to shareholders.
About Mintek
Mintek, South Africa's national mineral research organization has over 25 years experience in REE extraction and is one of the world's leading technology organizations specializing in mineral processing, extractive metallurgy and related areas. Working closely with industry and R&D institutions and reporting to the South African government's Minister of Mineral Resources, Mintek offers a complete range of process development services, from preliminary bench-scale investigations to large-scale piloting and integrated flowsheet development in support of bankable feasibility studies. Engineering design, plant construction and commissioning are carried out in conjunction with international partners. Comprehensive laboratory and piloting facilities for sample preparation, milling, flotation, physical separation, smelting, leaching, pressure leaching, and metal recovery and purification are supported by internationally accredited analytical laboratory and mineralogical services. For further information on Mintek, please visit .
About Montero Mining and Exploration
Montero Mining and Exploration Ltd. is a mineral exploration and development company engaged in the identification, acquisition, evaluation and exploration of mineral properties primarily focused on rare earth elements (REE), phosphates and uranium in Tanzania, South Africa and Quebec, Canada respectively. Montero is focused on adding value through the acquisition and exploration on properties, which have the highest potential for future discoveries or development of existing mineral resources into mineable reserves. We remain engaged in the development of our flagship Wigu Hill Rare Earth Element Project in Tanzania, which is a high-grade, undeveloped Light Rare Earth Element deposit. The Company's current focus is on updating the initial NI 43-101 Mineral Resource Estimate and advancing hydrometallurgical testwork with Mintek. With the rising prices of REEs and China's control over export quotas, it is becoming imperative that the rest of the world develops new rare earth resources to meet the increasing demand from "green" technology and high-tech applications.
Montero's growth strategy is to develop the Wigu Hill Rare Earth Element project and to bring this to account through eventual rare earth production and cash flow, while operating in an environmentally and socially responsible manner. We will continue to add value for all stakeholders through the development of our portfolio of properties. Montero trades on the TSX Venture Exchange under the symbol MON.
Signed. Dr. Tony Harwood - President and CEO
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Montero Mining and Exploration Ltd.
Richelle Chapman
IR Communications
+1 416 840 9197
+1 866 688 4671 (FAX)
Renmark Financial Communications Inc.
Peter Mahzari:
Arash Shahi:
(514) 939-3989 or (416) 644-2020
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Unternehmensinformation / Kurzprofil:
Datum: 13.12.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 96422
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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