Perth, Australia (ABN Newswire) -
MZI Resources Ltd. (ASX:MZI) is pleased to announce that heavy mineral concentrate (HMC) production has commenced at the Keysbrook mine site.
Highlights:
- First production achieved at Keysbrook mine site
- Project currently three weeks ahead of schedule and on budget
- Secondary processing to commence at the Doral mineral separation plant at Picton in November 2015
- First sales targeted for late December 2015
Following the recent commencement of 24 hour mining operations and mechanical completion of the Mining Feed Unit (MFU) and the Wet Concentration Plant (WCP) at Keysbrook, first ore has been fed into the MFU and WCP with HMC production commencing immediately.
The Keysbrook Project has achieved HMC production three weeks ahead of the original schedule and is currently on budget.
MZI Managing Director Trevor Matthews said "First HMC production is a great milestone for our shareholders and the team at MZI. To complete the WCP well ahead of schedule and on budget reflects the quality of the team and project. The Keysbrook Project is performing exceedingly well and we now look forward to commencing product sales later this year."
Keysbrook operations will be progressively commissioned to full capacity during the current quarter.
Heavy mineral concentrate will be stockpiled on the Keysbrook site ahead of the planned commissioning of the upgraded and expanded mineral separation plant in November 2015, with first sales targeted for late December 2015.
Keysbrook is currently scheduled to produce over 95,000 tonnes of leucoxene and zircon products annually, at EBITDA margins greater than 50%. Testwork to further increase WCP heavy mineral recoveries is progressing well as the Company continues with early stage expansion studies.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MZI-739616.pdf
About MZI Resources Ltd:
MZI Resources Ltd. (ASX:MZI) is a mineral sands company focused on the high value minerals of zircon, rutile and leucoxene. It has an advanced project at Keysbrook, Western Australia.
The Keysbrook project, located 70kms from Perth, Western Australia, is an advanced zircon / leucoxene rich mineral sands project. It has been granted all environmental, development and extractive industry license approvals from the relevant statutory authorities and Shires. Construction commenced early in 2015.
Contact:
MZI Resources Ltd.
Trevor Matthews, Managing Director
T: +61 8 9328 9800
Media Enquiries
Whitney Fitzsimmons Market Eye - Director Media & Communications
T: +61 448 285 646
E: whitney.fitzsimmons@marketeye.com.au
