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W Resources PLC

W Resources formally signs up mining contractor ahead of La Parrilla start-up

“Importantly, the contract is in line with our final investment decision report, which further underpins our confidence of achieving the low operating costs we have outlined"

La Parrilla under construction in April
La Parrilla under construction in April

W Resources PLC (LON:WRES) has announced the formal signing of a mining contract with General de Maquinaria y Excavación (GME) for the La Parrilla tungsten project in Spain.

A mining fleet, comprising three 60-tonne haulage trucks, is now in place at La Parrilla along with a Liebherr excavator and other auxiliary equipment.

The operation will be gradually scaled-up in step with demand as ramp-up progresses, W Resources said.

WATCH: W Resources sees first ore to newly installed jig and mill plant at La Parrilla

It noted that the mining team will be managed locally by an experienced mining engineer and a production foreman.

"Following detailed negotiations, we are delighted to have awarded the mining contract for La Parrilla to GME who bring extensive experience in mining and processing,” said Michael Masterman, W Resources' chairman.

“Importantly, the contract is in line with our final investment decision report, which further underpins our confidence of achieving the low operating costs we have outlined. The project remains within budget and we look forward to ramp-up to T2 of the project which will deliver significant earnings starting in 2019."

Meanwhile, construction and installation work is progressing well at the mine, with the concentrator plant on schedule to be completed in June. Other smaller modular plants are expected to be delivered in early July in time for the commissioning of the concentrator plant.

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W Resources aims for large-scale production after first T2 mine blast at La...

W Resources PLC (LON:WRES) chairman Michael Masterman tells Proactive Investors about the first T2 mine blast at the La Parilla Tungsten Project in western Spain, successfully shot on April 30, 2019.    Masterman said the event was significant for the company and represented...

on 2/5/19

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