Toledo says made first Berong ore shipment, but amount below forecast UPDATE
Filed under: Mineral - Zinc, Operator - Toledo Mining, Region 07 - Cebu
LONDON (AFX) - Toledo Mining Corp PLC said its first shipment of laterite nickel ore has left the Berong anchorage in Philippines but added that at about 19,000 tonnes, it is less than the expected 40,000 tonnes.
The shortfall was caused by a combination of factors, including the ship charter period expiring, poor sea conditions preventing loading and ‘the normal teething problems associated with start of a new operation’, Toledo said in a statement.
However, it said the volume of the shipment is, from the customer’s viewpoint, ‘more than sufficient’ for metallurgical testing purposes. It said it has about 100,000 tonnes of laterite ore ready for shipment, which is planned for later this month.
The company also said it plans to ramp up mining and hauling of the ore gradually to 4,000 tonnes a day in the dry season, from its current run rate of about 2,000 tonnes a day.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.