Condor Blanco fast-tracks to production at Marianas
PERTH (miningweekly.com) – Chile-focused Condor Blanco Mines has signed a heads of agreement with mining contractor Lacerta Finance and Mining Spa to process tailings ore from the Marianas magnetite and hematite project.
Under the long-term agreement, Lacerta would manage, operate and process tailings at the Marianas site.
A commercial-scale 200 t mining trail would be extracted and shipped to Lacerta at its processing plant within the next two weeks. Following the final larger-scale recovery test and the receipt of mine permits, Lacerta would relocate its magnetite processing plant and production staff to Marianas.
Condor Blanco Mines MD Glen Darby said on Thursday that the company had examined all processing options for the Marianas tailings, and believed that the agreement with Lacerta would be of the greatest benefit to shareholders, and would allow for the fast-tracking of production.
“Lacerta relocating their magnetite plant and mining equipment directly to the Marianas project is an exciting step forward for Condor, and moves Marianas straight into production,” Darby said.
He noted that as Lacerta had the infrastructure and human resources at the ready, it removed the need for ASX-listed Condor to have to source upfront funding for plant and machinery.
“This is a significant milestone in moving the company towards being cash flow positive, which will fund the drilling of our exciting Northern Chile copper and gold projects,” Darby said.
Once permitting is in place, up to 60 000 t/m of iron concentrate would be produced from some 250 000 t of unprocessed tailings.
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