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Toledo mining announces q1 2012 results for berong nickel mine by 123wert sdfsf
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Toledo mining announces q1 2012 results for berong nickel mine |
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Business,Business News,Business Opportunities
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As at March 31st 2012, total coastal stockpiles of all ore gradesincluding the two additional shipments where loading was under wayduring the end of March 2012 (shipments 3 and 4), amounted to328,000 wmt with an average grade of 1.54% Ni. With regard to ongoing permitting, whilst the Berong MineralProduction and Sharing Agreement covers 288 hectares the treecutting permits are granted in sections, incrementally as required.Owing to a delay in the granting of a new tree cutting permit, themine currently has a limited mining area. This is impacting on theamount of high grade ore which can be produced as per the originalmining plan. The new tree cutting permit was expected to have been receivedduring the first quarter of 2012, but on March 29th 2012, BNCreceived a letter from the Department of Environment and NaturalResources stating that, despite its full compliance with therequirements for the application of the tree cutting permit, it hasbeen decided that the application be referred to the PalawanCouncil for Sustainable Development for review, in relation toissues concerning mining activities and other environmental mattersin Palawan. This decision is consistent with the ongoingdiscussions regarding a new mining policy to be implemented by thenational government.
As a result of this new development, and to maximize the oreshipping tonnage, it was decided to revise the ore sales plan froma single 1.8% grade of nickel, to a combination of 1.8%, 1.6% and1.5% grade shipments. This will allow BNC to maximize this year'srevenue until a new tree cutting permit is granted. Notably, there has been a substantial improvement in the Chinesemarket in prices for 1.5% and 1.6% nickel ores since last year,which is favorable for BNC's mine operation. Additionally, expectedchanges to mining policy in Indonesia, which would restrict exportof unprocessed ores in the near future, has created robust Chinesedemand for all types of Philippine nickel ores. These recentdevelopments augur well for BNC and make the export of 1.5% to 1.6%grade ores a viable alternative to the original production plan.
Since the quarter end, the following three shipments werecompleted:. I am a professional writer from Gifts & Crafts, which contains a great deal of information about rope light tree , xenon bulb flashlight, welcome to visit!
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