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Almonty Posts Operational Update on Its Mines in Portugal, Spain and South Korea
TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (TSX: AII) (“Almonty”) provides an update on operational development at its wholly owned mines in Portugal, Sp
About this update from Almonty Industries Inc.
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (TSX: AII) (“Almonty”) provides an update on operational development at its wholly owned mines in Portugal, Spain and South Korea: The Panasqueira Mine in Portugal (“Panasqueira”) announces that the second tailings dam has been completed and is ready for operation. The completion of the second tailings dam (phase one) will enable Panasqueira to process and store tailings for another 6 years at the rate of 800,000 ton mining per annum. € 1,000,000 has been spent over 3 years towards the construction of this new tailings dam. All the pumping and piping systems connecting the processing plant and the new tailings dam have been installed and have completed a trial operation. The first pumping of tailings to the new tailings dam is expected to begin before January 2020 when the remaining capacity of the old tailings dam would have been fully consumed. The new tailings dam has been designed in compliance with the environmental and safety regulations of Portugal and the EU. In addition to the application of stringent safety standards in the engineering, the new tailings dam is designed for the second phase expansion for an additional 4 years by placing a surrounding 10 meter height retaining wall. A further phase three is now planned to increase capacity by a further 10 years. Thus, a total of 20 years additional capacity is anticipated after the completion of all three phases. The Los Santos Mine in Spain (“Los Santos”) has achieved an approximate 50% recovery rate of WO3 from its tailings retreatment as a result of continuing tests and trials -- a substantial improvement from the 35-40% recovery rate attained in the initial stage of tailings retreatment. This improvement in the recovery rate has been obtained through the tuning of processing equipment more apt for fine material like tailings. The Company continues to improve and increase its knowledge in the area of tailings reprocessing and further demonstrates the Company’s commitment to invest into tungsten technologies which is paramount to remain competitive. On September 3, 2019, the Company’s Sangdong Mine in South Korea has entered into a Contract for Construction of Buildings and Architectural Work with Ilkang K-Span, a local contractor for architectural building of the Milling & Flotation Building, Ore Shed, Office Build...