For immediate release: 0700hrs 25 June 2012
Strategic Minerals Plc
("Strategic Minerals" or the "Company")
Completion of rail upgrade at its Cobre mine in New Mexico
Strategic Minerals Plc (AIM: SML; USOTC: SMCDY) today announces that the rehabilitation and upgrade of the rail link to its magnetite deposit at the Cobre Mine in New Mexico is now complete, which will enable the commencement of rail shipments of its magnetite iron ore to begin. It is anticipated that shipment of commercial quantities of ore will start over the next 90 days. At full capacity the rail facility will be able to handle over 50,000 dry metric tonnes per month.
Paul Harrison, CEO of Strategic Minerals, said:
"We are delighted that this milestone in the development of the Cobre mine has now been completed. It will allow us to accelerate the supply of our high quality magnetite ore to commercial customers and build up our revenues significantly. To date we have only been able to truck haul a limited amount of product from the mine site to US domestic customers."
About Strategic Minerals
Strategic Minerals PLC (AIM: SML; USOTC: SMCDY) is developing a portfolio of projects that provide near term production and revenues along with exploration assets that offer significant potential in the longer term. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia. The Company has commenced production at its first magnetite operation, the Cobre stockpile in New Mexico and intends to develop a number of other projects within the same segment.
www.strategicminerals.net
For further information:
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Company |
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Strategic Minerals plc |
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Paul Harrison (CEO) |
+44(0) 20 7930 6009 |
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Nominated Adviser/Joint Broker |
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Allenby Capital Limited |
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Jeremy Porter / James Reeve |
+44 (0) 20 3328 5656 |
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Joint Broker |
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Daniel Stewart & Company Plc |
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Bob Huxford / David Hart |
+44 (0) 20 7776 6550 |
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Financial Public Relations |
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GTH Communications Limited |
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Toby Hall / Suzanne Johnson Walsh |
+44 (0) 20 3103 3903 |
This information is provided by RNS