Metro Mining updates its Bauxite Hills mine reserves to 109.5Mt; extends mine life by 3yrs
Metro Mining Limited has provided an update regarding its JORC reserves and resources for the Bauxite Hills mine following the first year of mining.
The total reserve estimate for Bauxite Hills is now 109.5 million tonnes (wet), up 18.8% from 92.2 million tonnes in March 2017. This has the potential to extend mine life by approximately 3 years to 2037, at the expanded run rate of 6 million tonnes per annum.
The increase in reserve is largely due to additional conversion of resources to reserves and change in moisture assumption from 10% to 12%.
Metro’s Managing Director and Chief Executive Officer Simon Finnis said: “We are pleased to report the increase in Reserve, effectively extending the mine life of Bauxite Hills, and the greater level of confidence in the total Resource. There has been strong reconciliation from the results of mining to date and the Resource and Reserve model. The results of this update demonstrate our increased confidence in the project.”
The total resource for Bauxite Hills decreased by 4.6% from March 2017 to 138.2 million tonnes (dry).
The total measured resource is now 78.1 million tonnes (dry), representing a 42.8% increase of the measured category from March 2017. There has also been a slight improvement in alumina and silica grades.
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