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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (163818)	2/18/2022 2:39:36 PM
From: LoneClone	Read Replies (1) of 192884

MRC reports maiden mineral sands reserve at Tormin Island miningweekly.com 18th February 2022 By: Esmarie Iannucci Creamer Media Senior Deputy Editor: Australasia PERTH (miningweekly.com) – A maiden ore reserve of 21.8-million tonnes, at 31% total heavy minerals, containing 6.7-million tonnes of heavy minerals, has been estimated for the Tormin mineral sands operation, in South Africa. ASX-listed Mineral Commodities (MRC) on Friday said the Tormin Inland Strand deposits comprised the Western and Eastern Strandlines, which is located adjacent to the existing processing infrastructure and run directly behind the existing beach mining areas. “This represents an important milestone that underpins our growth strategy for Tormin. Growing the Inland Strand resource and now maiden ore reserve, allows us to take a critical look at our expansion strategy for the Inland Strand operations,” said MRC MD Jacob Deysel. “A phased development programme from the Inland Strand and Beach deposits in a short period will significantly improve flexibility, optionality and revenue capacity from Tormin. The Inland Strand project is based on a staged development approach. Stage 1 involves a 1.2-million-tonne-a-year mining and processing operation within the already granted expanded mining right and stockpiled ore, where 7.9-million tonnes of ore reserves are available. Mining operations are then planned to extend into the new mining right application areas, with the 13.9-million tonnes of ore reserves in this area underpinning a doubling of Inland Strand production to a 2.4-million-tonne-a-year operation in Stage 2. Regulatory approvals will be required to extend mining activities outside the existing granted expanded mining right and preparations for applications are at an advanced stage. The maiden ore reserve is expected to support mining operations for more than ten years.

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