Subscribe to RSS feedIvernia gears up for lead exports renewal
Ivernia expects to return to exporting lead from Western Australia in the third quarter of the year, the company confirmed in its first-quarter results released late last week.
The Canadian miner was seeking US$10m ($13m) from the market to help fund costs associated with the containerisation of the 21,000 dry metric tonne (dmt) stockpile at its Magellan mine for export through the port of Fremantle.
This would take six months – the same time it would take to get the mine back to full production next year – and require the posting of a $5m bond.
“Looking ahead, our immediate focus is building on the successful lead removal operation at Esperance by continuing to demonstrate the high safety standards of our sealed shipment process beginning with trial mine-site stockpile shipments through Fremantle," chief executive Alan De’ath said.
"In tandem, the restart planning process has begun and in the months ahead we will focus on operations and mine planning, contract negotiations for contractors, supplies and logistics, together with recruitment and training programs that are key to the restart planning process.”
The first shipment of 590 dmt from Esperance under the lead removal plan was completed March 27, earning the company US$456,000.
The remaining stockpile of 7,400 dmt was shipped on May 4.
It was expected that initial shipments through Fremantle would start with small trial shipments in accordance with environmental health and safety regulations.
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