MONTREAL, Oct. 24, 2013 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of specialty metal and chemical products, is pleased to announce that it has entered into an exclusive long-term off-take agreement of bismuth with Masan Resources, one of the largest private sector natural resources companies in Vietnam which is about to commence bismuth production at its world-class Nui Phao polymetallic project in Northern Vietnam.
5N Plus will purchase the majority of bismuth produced at the Nui Phao mine with first delivery expected in November 2013. 5N Plus is a world leader in bismuth smelting, refining and marketing and has the ability to process Nui Phao's total production of bismuth through its plant in Laos which is conveniently located within driving distance of the Nui Phao mine, offering state-of-the-art capabilities ensuring a highly efficient and economical bismuth recovery process.
Nui Phao is a unique mine with one of the world's largest deposits of bismuth located outside China. As an open-pit mine with a low strip ratio, Nui Phao will be one of the world's lowest cost producers of bismuth. The project will produce refined tungsten products, acid-grade fluorspar, bismuth concentrate and copper concentrate. The products will be separated from the ore using a combination of conventional froth flotation and gravity separation processes. The project is spread over an area of 9.21 km2 in the Dai Tu District of the Thai Nguyen Province, only 80 km from Hanoi and about 180 km and 240 km from the Hai Phong and Quang Ninh ports, respectively. Basic infrastructure including roads, rail lines and access to power and water provides convenient access for shipping products from the project.
"We are pleased to have secured long term exclusive access to the bismuth concentrates to be produced at the Nui Phao mine which is expected to be one of the world's largest sources of bismuth. This will further strengthen our supply chain and provide greater flexibility building on our strong support from sources in China as well as elsewhere in the world. We are the world's leading producer of high purity bismuth and bismuth chemicals, and this new agreement underscores our willingness to maintain our leadership role in these markets" said Mr. Jacques L'Ecuyer, President and Chief Executive Officer of 5N Plus.
About 5N Plus Inc.
5N Plus is the leading producer of specialty metal and chemical products. Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications. Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers. Many of these are critical precursors and key enablers in markets such as solar, light-emitting diodes and eco-friendly materials.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to 5N Plus at this time and involve known and unknown risks, uncertainties and other factors that may cause 5N Plus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting 5N Plus' business and activities appears under the heading "Risks and Uncertainties" of 5N Plus' 2012 MD&A dated March 28, 2013 and Note 13 of the unaudited interim condensed consolidated financial statements for the three‐month periods ended June 30, 2013 and 2012 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N Plus. The forward-looking information contained in this press release is made as of the date hereof and 5N Plus undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.
SOURCE: 5N Plus Inc.
For further information:
Vice President, Legal Affairs and Corporate Secretary
5N Plus Inc.
(514) 856-0644 x6178