Philex Gold Announces Two-Month Suspension Of Operations At Bulawan Mine.Business Editors TORONTO--(BUSINESS WIRE)--July 14, 2000 Philex Gold Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PGI PGI Protected Geographical Indication PGI Progiciel de Gestion Intégré (French: Enterprise Resource Planning) PGI Phosphoglucose Isomerase PGI Polish Geological Institute (Warsaw, Poland) ) announced a two-month suspension of milling operations at its Bulawan mine, Negros Island, Philippines, effective July 16, 2000. The bulk of the ore is currently being sourced from the South block, nearing full depletion and with sub-economic ore grades Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly . Higher grade ore is expected to be sourced from the new Central block following rehabilitation rehabilitation: see physical therapy. of the initial production lines and draw points at the 70 metre level (ml), which became constricted con·strict v. con·strict·ed, con·strict·ing, con·stricts v.tr. 1. To make smaller or narrower by binding or squeezing. 2. To squeeze or compress. 3. due to ground pressure. The rehabilitation activities, currently 55% completed, will be substantially finished upon the resumption of operations. Additionally, the suspension will allow for an acceleration of the development of level drives preparatory to front caving activities at the 85 metre undercut level of the block. Higher ore grades and consequent metal output is therefore expected when normal operations Generally and collectively, the broad functions that a combatant commander undertakes when assigned responsibility for a given geographic or functional area. Except as otherwise qualified in certain unified command plan paragraphs that relate to particular commands, "normal operations" of resume in mid-September. The combination of block caving on the rehabilitated production lines at the 70 ml and of front caving at the 85 ml has been determined to be the quickest and most economical way of accessing higher grade ore from the Central block. Front cave lines can subsequently be developed at the 70 ml, below the 85 ml front cave area, to extract the 15 metre ore column between the two levels as well as the remaining ore following front cave operations at the 85 ml. The two-level front cave is expected to maximize ore extraction beyond an estimated two-year period. The suspension will result in the layoff of about 40% of the work force. The balance will be required for continued development work, mining and stockpiling stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. of ore from the Central block at a reduced level in order to avoid packing of the ore column, and for surface support activities. Following the resumption of operations and pursuant to the revised mining plans, 80% of the current work force will be required. A manpower reduction program to achieve the planned decrease is therefore being implemented simultaneously with the layoff associated with the two-month suspension. While the shutdown will result in lower than planned metal output for the year, with the expectation of improved ore grades from the Central block following the resumption of operations, production is expected to improve in the fourth quarter and through the following year. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion