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Liberty Mines Announces Plan to Restart Production at its Timmins Operations in Q1/2012
TSX: LBE TORONTO, Oct. 4, 2011 /CNW/ - Liberty Mines Inc. (LBE:TSX) ("Liberty" or ...
About this update from Electric Metals Usa Limited
[{"type":"text","content":"\n\n\n\n\n\nTSX: LBE\n\n\nTORONTO, Oct. 4, 2011 /CNW/ - Liberty Mines Inc. (LBE:TSX) (\"Liberty\" or\n the \"Company\") today announced it has finalized a plan to restart\n production at its Timmins facility in Q1/2012.  The plan, which will\n include reparations and upgrades to its existing tailings pond facility\n (TPF), the milling of stockpiled ore inventory and the restart of\n underground operations, was developed after completing a thorough\n review of all aspects of the Company's operations including personnel,\n equipment, policies and procedures.  In addition, environmental work\n has started for permitting a new TPF that will provide more than 15\n years of tailings storage capacity.\n\n\n\"Our single focus over the past six months has been to restart\n production and we are extremely pleased with the progress we have\n made,\" said Mr. Chris Stewart, President and CEO of Liberty Mines Inc.\n \"Since February, we have been working closely with various regulatory\n bodies to take the proper corrective measures and have hired qualified\n engineering consultants to support our efforts.  Today's plan provides\n us a clear roadmap to realize our short- and long-term objectives. \"\n\n\nTo support the re-start of its operations, Liberty will repair its\n existing TPF after having obtained and analyzed the results from all of\n the field work and laboratory work over the past six months.  As\n disclosed previously, Liberty suspended operations at its Timmins\n facility due to maintenance and tailings pond related issues in\n February, 2011.\n\n\nLiberty will also be performing a dam raise to the current TPF in order\n to provide an additional three years of capacity for mill tailings at\n an operating rate of 1,500 tonnes per day upon receiving the necessary\n regulatory approvals.\n\n\nLiberty will deploy a portion of the Company's $20.0 million credit\n facility to implement its plan.  This facility was established earlier\n this year with Liberty's controlling shareholder, Jilin Jien, one of\n the largest producers of nickel sulfate in the world, with annual\n output of 25,000 tons.\n\n\n\"The planned repairs to our TPF and the dam raise will support our\n operations through to 2015,\" Mr. Stewart also said.  \"To support our\n longer-term objectives and ensure that our full potential is...