Rio Narcea Announces Successful Completion of Performance Tests and Commissioning at its Aguablanca Nickel Mine.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or the "Company")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :RNG See RELAX NG. )(AMEX AMEX See: American Stock Exchange :RNO RNO Russian National Orchestra RNO Race National Origin (EEO) RNO Radio Network Optimization RNO Rosettanet Object RNO Resident Naval Officer RNO Recipient Network Operator (mobile communications operator) ) announces that successful completion of the performance tests for its Aguablanca nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. mine, as specified in terms of the lump-sum contract agreed between the Company and Fluor Corporation has been achieved. The performance tests were conducted in January and February 2006 and consisted of two separate tests: 1) two five day performance tests during which time the plant operated at the specified test criteria listed below and; 2) one thirty day reliability test during which time the plant achieved 95% of each of the specified test criteria.
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Specified Test Performance Test Reliability Test
Criteria (two five day tests) (one thirty day test)
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Performance 195 tonnes per hour 185.25 tonnes per hour
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Mechanical
Availability 94% 89.3%
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Bulk Concentrate Grade
(combined Ni and Cu) 13%(i) 12.35%(i)
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92% of the 87.4% of the
theoretical design theoretical design
Nickel Recovery recovery (82% Ni) recovery (82% Ni)
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Grinding Size
Distribution 80% passing 80 microns 76% passing 80 microns
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(i) During January 2006, nickel and copper concentrate grades of 7.17% and 7.01%, respectively, were achieved. With completion of these tests, Rio Narcea considers the plant commissioned at the initial designed throughput rate Throughput rate is an obsolete term[1] in the terminology of automated chemical analysis. It may mean either:
1. ^ International Union of Pure and Applied Chemistry. "throughput rate". of 195 tonnes per hour (1.5 million tonnes/year) and is now focusing its efforts on the plant expansion to the final throughput rate of 235 tonnes per hour (1.8 million tonnes/year). Commenting on these successful results at Aguablanca, Chris von Christierson, Chairman and Chief Executive Officer of Rio Narcea stated "We are pleased that commissioning of the Aguablanca mine is now complete and we look forward to the successful operation of the mine over its life. In this time of buoyant Buoyant The term used to describe a commodities market where the prices generally rise with ease when there are considerable signals of strength. Notes: These types of markets can be very volatile as the prices are rapid to rise and fall with investor sentiment. commodity prices, we are also encouraged by the prospect of expanding beyond designed annual production of 18 million pounds of nickel and 14 million pounds of copper." Forward-looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Some statements in this press release contain forward-looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected. Rio Narcea Gold Mines, Ltd. (TSX:RNG) (AMEX:RNO) |
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