Lumwana Project Update Primary Crushing Commences 1st Electric Face Shovel Commissioned
Tue Oct 7, 3:50 PM
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TORONTO, Oct. 7 /CNW/ - Equinox Minerals Limited (TSX and ASX symbol: "EQN") ("Equinox" or the "Company") is pleased to provide the latest Lumwana Copper Project (the "Project") update reporting that the Company has accepted from its EPC contractor handover of the Primary Crushing and Conveying circuit and successfully commissioned and put into production its very first large scale Hitachi EX5500-6 electric shovel.
Crushing operations have commenced with the Company's operations team and crushed material is currently being stockpiled in preparation for commissioning of the remainder of the Project process plant.
The crushing circuit, which includes the company's 4.5 km overland conveyor, has crushed and transported over 150,000 tonnes of material easily exceeding the crushing design throughput rate of 3,309 tonnes per hour. As part of initial testing, consistent rates in excess of 4,000 tonnes per hour have been achieved; these rates represent approximately 30 million tonnes per annum.
In addition the Company reports that it has put into production and successfully commissioned its first large scale electric shovel (Hitachi EX5500-6) with all design productivity parameters currently being met or exceeded. The electric shovel, with an operating weight of 518 tonnes, requires 1720kW to power two Hitachi TFOA-KK motors and is configured utilizing a 27m(3) bucket designed to mine approximately 26 Mt of material annually at a mining rate of 4,000 tonnes per hour. An additional three electric shovels will be put into production in the next 6 weeks to work alongside the 3 diesel excavators/shovels that have been operating since 2007. Combined, these units are expected to complete the final commissioning and ramp up of the mining operation for the Project production phase.
Mr Craig Williams, Equinox's President and CEO commented, "We are very pleased with the initial performance of both the crushing and conveying circuit and the key mine electric production units. Both are designed to utilize low cost, clean electrical energy and position Lumwana as a robust, long term, low cost copper producer."
On Behalf of the Board of Directors of Equinox:
Craig R. Williams - President & Chief Executive Officer
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Cautionary Language and Forward Looking Statements
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This press release contains "forward-looking statements" and "forward-
looking information", which may include, but is not limited to,
statements with respect to the future financial or operating performances
of Equinox, its subsidiaries and their respective projects, the future
price of copper and uranium, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing and
amount of estimated future production, estimated costs of future
production, capital, operating and exploration expenditures, costs and
timing of the development of the Lumwana Project, the costs of Equinox's
hedging policy, costs and timing of future exploration, requirements for
additional capital, government regulation of exploration, development and
mining operations, environmental risks, reclamation and rehabilitation
expenses, title disputes or claims, and limitations of insurance
coverage. Often, but not always, forward-looking information can be
identified by the use of words such as "plans", "expects", "is expected",
"is expecting", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes", or variations (including
negative variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might", or "will" be
taken, occur or be achieved. The purpose of forward-looking information
is to provide the reader with information about management's expectations
and plans for the Company. Readers are cautioned that forward-looking
information involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of Equinox and/or its subsidiaries to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking information. Such factors include, among others, those
factors discussed in the section entitled "Risk Factors" in the Company's
annual information form, which is available at www.SEDAR.com. Although
Equinox has attempted to identify statements containing important factors
that could cause actual actions, event or results to differ materially
from those described in forward-looking information, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. Forward-looking information contained
herein are made as of the date of this document based on the opinions and
estimates of management on the date statements containing such forward
looking information are made, and Equinox disclaims any obligation to
update any forward-looking information, whether as a result of new
information, estimates or opinions, future events or results or
otherwise. There can be no assurance that forward-looking information
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward looking
information.
Technical information in this release is summarized or extracted from the
"Amended Technical Report on the Lumwana Copper Project, North Western
Province, Republic of Zambia" dated June 2008 (the "Technical
Report"), prepared by Michael Davis, Process Manager, Ausenco Ltd.
("Ausenco"), Ross Bertinshaw, Principal of Golder Associates Pty Ltd.
("Golder"), Andrew Daley, Director, of Investor Resources Finance Pty
Ltd ("IRF"), Daniel Guibal, Corporate Consultant (Geostatistics and
Resources), of SRK Consulting (Australasia) Pty Ltd ("SRK") and Robert
Hanbury, Associate Director, of Knight Piésold Pty Ltd. ("Knight
Piésold"), each of whom is a "Qualified Person" in accordance with
National Instrument 43-101 -Standards of Disclosure for Mineral Projects.
Readers are cautioned not to rely solely on the summary of such
information contained in this release, but should read the Amended
Technical Report which is posted on Equinox's website
(www.equinoxminerals.com) and filed on SEDAR (www.sedar.com) and any
future amendments to such report. Readers are also directed to the
cautionary notices and disclaimers contained herein. All currency in this
release is U.S. dollars unless otherwise stated.
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Contacts
Craig R. Williams (President and Chief Executive Officer)
Michael Klessens (V.P. Finance and CFO)
Phone: +61 (0) 8 9322 3318 Email: equinox@equinoxminerals.com
or Kevin van Niekerk (V.P. Investor Relations/Corporate Development)
Phone: (416) 865-3393
Email: kevin.van.niekerk@equinoxminerals.com
For information on Equinox and technical details on the Lumwana Project please refer to the company website at www.equinoxminerals.com |
