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DragonOilGuyon Aug 12, 2008 8:23am
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news: Mineral Park Construction Update
news: Mineral Park Construction Update
VANCOUVER, Aug. 12, 2008 (Canada NewsWire via COMTEX News Network) --
TRADING SYMBOL: TSX - ML
MercatorMinerals Ltd. ("Mercator") is pleased to report it is on track forstart up of the Mineral Park Moly/copper mill expansion in Arizona.Mineral Park will commence commissioning activities in September withmill start up projected for October. The following are some of the keymilestones achieved to date:
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- Both Ball mills for the first stage construction to 25,000 tons per
day have been received and have been set in the bearings with
mechanical alignment well under way;
- The SAG mill for the first stage of the expansion has been set in the
bearings and mechanical alignment nearly complete with liners
scheduled to be installed in the next couple of weeks;
- The crusher frame has been installed with bearing and shaft work well
underway;
- The mechanical work on the coarse ore stock pile stacker has been
completed with the electrical work well underway and nearing
completion;
- The mechanical work on the reclaim tunnel is complete with electrical
work expected to be completed later this month;
- Mechanical on the Concentrate thickeners is complete;
- Rougher flotation cells are complete and being wired;
- Copper cleaner cells are installed and motor wiring is nearly
complete;
- Moly floatation cells are installed and electrical underway;
- All the lime and reagent tanks are complete and set;
- The concentrate building is complete with overhead cranes fully
functional;
- The new 69kv power line and site distribution are nearing completion
and are scheduled for commissioning in September;
- The upgraded water system is complete and scheduled for commissioning
during the third week of September;
- The tailings dam raise has been completed with piping is well
underway;
- All of the tailings drop boxes and the reclaim barge are complete.
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"Thereare over 400 workers on the Mineral Park Moly/copper mill expansionworking around the clock 7 days a week on our 50,000 ton per day millexpansion," said Mike Surratt President and CEO of Mercator Minerals."We have received almost all of the major equipment and what we don'thave we will have when we need it. All our contractors and our owncrews are putting in a great effort and we look forward to starting upwhat will be the next major Moly/Copper operation in North America,"said Surratt.
Mercator Minerals Ltd.
Mercator is acopper producer that owns and operates the Mineral Parkcopper/molybdenum mine in Arizona, with a corporate strategy focused onmaximizing the production potential of the Mineral Parkcopper-molybdenum deposit and growing through mergers and acquisitions.Mercator is in an advanced stage of construction of themolybdenum-copper expansion at Mineral Park. At full capacity, theMineral Park mine average annual production during the first 10 yearsis forecast to be approximately 56.4 million pounds of copper, 10.3million pounds of molybdenum and 0.6 million ounces of silver.