Business
Update of Mining Activities at TVIRD's 60% owned Agata Nickel/Iron Mine, Agata Mining Ventures Inc.
Update of Mining Activities at TVIRD's 60% owned Agata Nickel/Iron Mine, Agata Mining Ven...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n \n \n \n Update of Mining Activities at TVIRD's 60% owned Agata Nickel/Iron Mine, Agata Mining Ventures Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n May 18, 2022\n \n \n /CNW/ - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) (\"\n \n TVI\n \n \" or \"\n \n the Company\n \n \") is pleased to provide an update with respect to mining activities at the Agata nickel/iron mine, Agata Mining Ventures Inc. (\n \n \"AMVI\"\n \n ), a joint venture company in which TVI Resource Development Phils., Inc. (\"\n \n TVIRD\n \n \") holds a 60% interest and is operator.  TVIRD is a\n \n Philippines\n \n corporation in which TVI holds a 30.66% interest.\n \n \n \n Highlights:\n \n \n \n \n The Agata direct shipping nickel/iron mine is currently expected to cease operations in\n \n October 2022\n \n unless additional resources are discovered resulting from an ongoing exploration program that is currently underway.\n \n \n Excessive rainfall, declining ore grades and continuing lockdowns in\n \n China\n \n resulting from their strict Covid Zero policy have impacted AMVI's current ability to ship.\n \n \n The infrastructure of the Agata direct shipping nickel/iron mine will remain available to the potential Agata Limestone project when that project moves ahead.\n \n \n Through to\n \n April 30, 2022\n \n , AMVI has shipped a total of 19.33 million wet metric tonnes of nickel laterite ore through 355 shipments, equal to almost two times the original proven and probable reserves of 9.7 million wet metric tonnes of nickel laterite ore developed in 2013.\n \n \n \n \n Agata Nickel/Iron Mine:\n \n \n \n TVIRD holds a 60% interest in and is operator of the Agata direct shipping nickel/iron mine, AMVI, which commenced operations in October 2014.  AMVI is situated in a 4,995 hectare Mineral Production Sharing Agreement (\n \n \"MPSA\"\n \n , MPSA No. 134-99-XIII) area located in the adjacent municipalities of Tubay, Jabonga and\n \n Santiago\n \n in Agusan del Norte province, Philippines.  The term...