logo-loader
Ormonde Mining plc

Ormonde Mining achieves “major milestone” in development of Barruecopardo tungsten project

The AIM-listed mining firm said commissioning had commenced for the turnkey crush and screen plant, with the first trial of waste rock carried out successfully

Primary crusher
Primary crusher commissioning at Barruecopardo

Ormonde Mining plc (LON:ORM) has achieved a “major milestone” in the development of its Barruecopardo tungsten project in Spain.

In an update for the project, the AIM-listed mining firm said during August commissioning had commenced for the turnkey crush and screen plant, with the first trial of waste rock through the primary crusher having been carried out successfully.

READ: Ormonde Mining still on time and on budget with Barruecopardo development

Ormonde added that the rest of the crush and screen circuit was complete and the installation of associated electric circuits was due to be completed by the second half of September.

Initial commissioning of the water treatment plant at the site had also been carried out, the company said, with major equipment and structure installations at the process plant also “well-advanced”.

The company’s chairman, Michael Donoghue, said process plant commissioning was now expected to commence in “early December”, later than originally expected, and to run through into January 2019 with the production of tungsten concentrates to begin in February.

Ormonde added that the project’s construction costs remained within the budget of €53.6mln.

The firm holds a 30% stake in the Barruecopardo project and has been pushing ahead with construction following a strengthening in tungsten prices last year in partnership with Oaktree Capital, who owns the remaining 70% stake.

Quick facts: Ormonde Mining plc

Price: £0.02

Market: AIM
Market Cap: £10.87 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ormonde Mining plc named herein, including the promotion by the Company of Ormonde Mining plc in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Ormonde Mining's Steve Nicol upbeat as Barruecopardo tungsten mine continues...

Ormonde Mining managing director Steve Nicol sat down with Proactive Investors to talk us through the busy phase of work currently underway as the development of the Barruecopardo tungsten mine progresses towards completion. Fully funded, fully permitted and on track for a 2017 start up,...

on 27/7/16

2 min read