30th Jul 2015 09:03
LONDON (Alliance News) - Wolf Minerals PLC Thursday said it is on track to deliver initial production from the Drakelands mine to customers on schedule in September.
The Drakelands open pit mine at the Hemerdon tungsten and tin project in Devon, England, began extracting ore in June and a final performance test will be conducted by GR Engineering in August before officially being handed over to the company.
In the second quarter of 2015, Wolf spent a total of AUD31.8 million on the Drakelands mine.
"Wolf has focussed on completing the Hemerdon project construction and on commencing commissioning this quarter," said Managing Director Russell Clark. " It is immensely exciting and very special for all of us to be part of making the first new metal mine in Great Britain for 45 years become a reality."
"As we look to the next quarter, our focus will be on delivering first product to customers in September, and ramping up the plant to full production by early 2016. We are working through a six month trial of seven day a week operations, and we will be seeking to formalise this arrangement permanently by the year's end." he added.
Wolf shares were down 0.6% to 15.66 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Wolf Minerals