🕐27.10.09 - 02:01 Uhr
Mineral Resources reaches Farm-in agreement with Reed Resources
ASX Announcement
27 October 2009
Mineral Resources reaches Farm-in agreement with Reed Resources on Mt
Marion Lithium Project
Mineral Resources Limited (ASX: MIN) has today reached a Farm-in agreement
with Reed Resources Ltd (ASX: RDR) to develop the Mount Marion Lithium
Project located between Kalgoorlie and Kambalda in the Goldfields region of
Western Australia.
Mineral Resources will complete the Feasibility Study incorporating
information derived from a number of studies completed by previous tenement
owners and further exploration activities with a view to subsequently
build, own and operate processing facilities; fund development costs and
operate open pits at the project.
The Feasibility Study, which is currently underway, will confirm the
parameters by which initial production will occur, particularly in relation
to the mix of chemical/ glass grade products.
Initially, the project is
expected to deliver up to 1Mtpa of ore (or the equivalent of 200,000 tonnes
of concentrate at 6.5% Li2O) to a Mineral Resources designed and built
start-up plant alongside the existing Nimbus processing plant.
This level
of production is planned to continue until a larger plant and increased
production is required.
Mineral Resources, which has extensive experience in the construction and
operation of significant processing operations throughout Australia,
expects to mobilise a processing plant and related equipment to Nimbus in
Q2 2010.
First shipments of product, at a production rate of 17,000 tonnes
per month of +6.5% Li2O concentrate, is expected to commence from Q3 2010,
subject to a decision to mine and obtaining all necessary approvals.
To download the announcement click here:
http://esp.gewru.com/download/files/12414/971247/Farm-in%20agreement%20with%20Reed%20Resources.pdf
For further information contact:
Peter Wade
Executive Chairman / Managing Director
Telephone: (08) 9437 7000
www.mineralresources.com.au
David Tasker
Professional Public Relations
Telephone: (08) 9388 0944
Mobile: 0433 112 936
Email:
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