Proactive Investors - Run By Investors For Investors

Ormonde Mining hails significant advancements in the development of the Barruecopardo mine

The average site headcount at the tungsten project in the first half of the year was 127, including 32 from Barruecopardo and surrounding towns
The processing plant at Barruecopardo
The processing plant at Barruecopardo

Ormonde Mining plc (LON:ORM) is now focused on the completion of construction and commissioning of the plant at the Barruecopardo tungsten project.

In an interim results statement covering the first half of 2018, the company hailed a number of significant advancements in the development of the mine (see Proactive Investors news item, below).

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

Half-year turnover was unchanged at €375,000 while the loss for the period widened to €73,000 from €12,000 the year before.

"The year to date has seen significant advancements for Ormonde, as the Barruecopardo Tungsten Project has progressed through its construction phase and into the important commissioning phase, which commenced in August 2018. This key milestone was achieved on budget and materially in line with the Project's construction schedule,” said Mike Donoghue, Ormonde’s chairman and interim managing director.

"The focus over the coming period will be on the completion of construction and commissioning of the plant, in tandem with work surrounding updates to the mining schedule and operational budgets for the initial year of mining ahead of the project entering its production phase in the first quarter of 2019," he added.

View full ORM profile View Profile

Ormonde Mining plc Timeline

Related Articles

May 20 2019
The company has identified a path to early development that aims to position Longonjo as an important supplier of NdPr raw materials to meet demand from the electrification of vehicles.
South America's prospective lithium triangle extends upwards from Argentina, across Chile and to Bolivia
February 01 2019
Galan is named for the Cerro Galán volcano system near its Argentinian ground.
Development work at Far West deposit where mining will start this quarter
January 21 2019
The company will open a new underground mine this quarter after achieving record production levels.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use