Hambledon Mining PLC
19 February 2008
HAMBLEDON MINING PLC
(AIM: HMB)
Boiler accident at Sekisovskoye - update
Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the
AIM-listed gold mining and processing company operating in Kazakhstan, announces
that the investigation into the boiler accident at the process plant of its gold
mine at Sekisovskoye on 12 February 2008 is ongoing and is likely to be
completed in the next few days.
The boiler in use was the same as those used for the same purpose in several
other mining companies' gold plants in Kazakhstan and the cause of the accident
is still unclear.
The damage to the processing facility was relatively minor and can be rectified
by maintenance crews whilst a replacement boiler is procured. A suitable boiler
has been located in Russia and could, if necessary, be air-freighted to
Sekisovskoye, though preference will be given to a local supplier. The order for
a new boiler will only be placed once the result of the investigation is known
so that any lessons learned or recommendations arising from it can be followed.
Once the inquiry is completed and orders can be placed, it is expected that the
plant could be closed for up to a further five weeks. This period could be
reduced if a suitable boiler can be sourced locally.
Prior to the accident, operations had been progressing well. Metallurgical
recovery had reached 85% and would have been expected to reach the design level
of 92% upon the commissioning of the Falcon gravity concentrator, which was
ready and waiting for the Falcon commissioning engineers to arrive.
During the shut-down, the workforce have been redirected to other site-work and
rectification of the remaining crusher problems with the intention that the
plant will operate at design capacity when it restarts.
Nick Bridgen, Chief Executive, commented:
'Our thoughts and sympathy are with the family of the operator who was
tragically killed. We have always made it our priority to make sure that the
plant is safe and will do everything in our power to ensure that no accident
like this happens again.'
Enquiries
Hambledon Mining plc Telephone: +44 7791 327 180
Nick Bridgen
Bankside Consultants
Michael Padley Telephone: +44 20 7367 8888
Seymour Pierce
Nicola Marrin Telephone: +44 20 7107 8000
Note to editors
Hambledon Mining plc is an AIM-listed gold mining and exploration company, which
is operating the Sekisovskoye gold mine and the Ognevka processing plant, both
of which are close to Ust Kamenogorsk in East Kazakhstan.
At Sekisovskoye, the Company is mining from an open pit and has constructed an
850,000 tonnes per year treatment plant. Production from the open pit will
average over 40,000 ounces per annum. After the start of open pit processing,
the Company plans to develop the much larger underground resource that is
expected to lead to a combined production rate of around 100,000 ounces per
year.
The Ognevka processing plant is producing concentrates containing gold, silver,
copper, iron and coke from the re-treatment of zinc smelter residues.
This information is provided by RNS
The company news service from the London Stock Exchange