Mount Gibson Redeveloping Koolan Island Iron Ore Mine
Mount Gibson Iron Ltd. has initiated work to redevelop and restart production from the high-grade Main Pit iron ore deposit at its Koolan Island mine off the north coast of Western Australia. Seawall construction, pit dewatering and all other activities associated with restarting production are anticipated to take approximately 24 months to complete. Mount Gibson is targeting first ore sales from the mine in early 2019.
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Heron Signs Off-take
Agreement for Woodlawn Project In separate announcements in early May, Heron Resources reported it has awarded an engineering, procurement and construction (EPC) contract for its wholly-owned Woodlawn project near Tarago, New South Wales, and signed an off-take agreement for 100% of the zinc, copper and lead concentrates to be produced by the project. The EPC contract went to Sedgman. The off-take agreement was signed with Louis Dreyfus Co. Metals and covers the period of about 3.25 years from the start of production through to the end of 2021.
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Underground Mining
Commences at Beresford Dacian Gold announced that underground mining has commenced at Beresford, part of the Westralia Mine Area at the company’s 100% owned Mount Morgans gold project in Western Australia. The first cut of the Beresford portal has been taken from the base of the Westralia open pit and marks the company’s transition from explorer/developer to miner. The Beresford Decline is now focused on accessing the high-grade lodes at the southern end of the Beresford deposit, which is scheduled for November. “This is a tremendous result for the company, its shareholders and employees,” Executive Chairman Rohan Williams said. “We started as an exploration IPO just four and a half years ago, and as a result of our exploration success, we are now firmly on the path to becoming Australia’s next midtier gold producer.” He added that the company is fully funded to first gold production in March 2018.
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