LONDON, Dec. 21, 2017 /CNW/ - Meridian Mining SE (TSX V: MNO) ("Meridian" or the "Company") today announced it has begun production at its upgraded Jaburi plant.
- Reached a total production of 50,000 tonnes of manganese product on December 20, 2017
- Initial run through of Dry Material completed
- Continuous production runs started
- Current availability is 70% expected to reach 90% plus by the end of the year
The plant is now operating with reduced quantities of material, gradually scaling up production as the company aligns staff, new operational processes with the new equipment. All systems are continually being adjusted with different quantities and variations in material processed, so each stage of production can be optimised.
"The construction and first phase implementation of the new plant has met our expectations and is on schedule," said Carlos Braga, COO of Meridian.
"This is a strong endorsement of our main contractors Kuttner (Kuttner do Brazil Equipmentos Siderúrgicos Ltda.) and the ability of our own staff to partner in this highly complex process."
The construction of the new plant began in June 2016 with the commencement of civil works and the addition of a new feeder, primary crusher and roll crusher. The commissioned plant will achieve cost savings through additional capacity, a streamlined process, as well as providing reliable conditions for Meridian to achieve its production and safety goals. The expanded capacity will also allow Meridian to further explore and reach out to international niche markets of high grade manganese.
Since acquiring our mining assests in Rondônia, Meridian has produced a total of 100,000 tonnes of manganese. Our year to date production reached 50,000 tonnes on December 20, 2017. With the new plant commissioned, we are now able to increase our production targets for 2018 to meet the demand for our high quality product.
The technical information about the Company's production and sales activities has been prepared under the supervision of and verified by Carlos Braga (B.Sc., MBA, member of the Chilean Mining Commission), the Chief Operating Officer of Meridian Mining, who is a "qualified person" within the meaning of National Instrument 43-101.
On behalf of the Board of Directors of
Meridian Mining SE
President, CEO and Director
Meridian Mining SE is focused on the acquisition, exploration, development and mining activities in Brazil. The Company is currently focused on exploring and developing the Espigão manganese and gold projects, the Bom Futuro tin JV area, and adjacent areas in the state of Rondônia. The Company employs a two-pronged strategy with the objective of growing pilot production while advancing a parallel multi-commodity regional exploration program. Meridian is currently producing high grade manganese at its project located at Espigão do Oeste.
Further information can be found at www.meridianmining.co.
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of its properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of its mineral properties, and no mineral reserve estimate has been established. In particular, because the Company's production decision relating to BMC's manganese project is not based upon a feasibility study of mineral reserves, the economic and technical viability of the Espigão manganese project has not been established.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Arrangement and has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Meridian Mining S.E.
For further information: Jonathan Richards, tel: 604-681-0405, [email protected]