News Release...Mirabela Nickel Ltd (MNB:TSX) - News Alert
Mirabela Nickel Limited - Production Update
ASX Code: MBN
TSX Code: MNB
Number of shares: 422,237,130
Mirabela Nickel Limited ("Mirabela" or
the "Company") is pleased to provide a production update for the
quarter ended 30 September 2010. The full third quarter results will be
released on 26 October 2010.Â
Production Statistics
___________________________________________________________________
| | | Q1 2010 | Q2 2010 | Q3 2010 |
|______________________________|______|_________|_________|_________|
|Mining | | | | |
|______________________________|______|_________|_________|_________|
|Total Material Mined |Tonnes|5,456,000|7,099,000|7,424,000|
|______________________________|______|_________|_________|_________|
|Ore Mined |Tonnes| 653,000 | 663,000 | 846,000 |
|______________________________|______|_________|_________|_________|
|Nickel Grade | % | 0.56* | 0.55* | 0.55* |
|______________________________|______|_________|_________|_________|
|Processing | | | | |
|______________________________|______|_________|_________|_________|
|Total Ore Processed |Tonnes| 778,000 | 840,000 | 942,000 |
|______________________________|______|_________|_________|_________|
|Nickel Grade | % | 0.51* | 0.52* | 0.52* |
|______________________________|______|_________|_________|_________|
|Copper Grade | % | 0.15 | 0.13 | 0.12 |
|______________________________|______|_________|_________|_________|
|Cobalt Grade | % | 0.02 | 0.02 | 0.02 |
|______________________________|______|_________|_________|_________|
|Nickel Recovery | % | 48 | 52 | 49 |
|______________________________|______|_________|_________|_________|
|Copper Recovery | % | 62 | 67 | 68 |
|______________________________|______|_________|_________|_________|
|Cobalt Recovery | % | 28 | 30 | 27 |
|______________________________|______|_________|_________|_________|
|Nickel in Concentrate Produced| DMT | 1,991 | 2,304 | 2,405 |
|______________________________|______|_________|_________|_________|
|Copper in Concentrate Produced| DMT | 721 | 764 | 774 |
|______________________________|______|_________|_________|_________|
|Cobalt in Concentrate Produced| DMT | 35 | 40 | 41 |
|______________________________|______|_________|_________|_________|
|Sales | | | | |
|______________________________|______|_________|_________|_________|
|Nickel in Concentrate Sold | DMT | 1,987 | 2,505 | 2,359 |
|______________________________|______|_________|_________|_________|
|Copper in Concentrate Sold | DMT | 721 | 824 | 753 |
|______________________________|______|_________|_________|_________|
|Cobalt in Concentrate Sold | DMT | 36 | 43 | 37 |
|______________________________|______|_________|_________|_________|
* The primary difference between the grade mined and the grade processed
is due to the additional processing of lower grade material (not
classified as ore) whilst the ramp up of the mining operation is
catching up to the processing plant.Â
Production Update
Ramp up of the Santa Rita operations continued during the third quarter
of 2010.
Mining rates and mobile fleet performance improved significantly during
the quarter. Material movement targets were achieved during September
due to improved equipment availability and productivity, as well as the
arrival of the new contractor shovel and the CAT 994 front end loader.
The South Pit pre-strip was completed during the quarter with first ore
production occurring during September. The mining team continued their
focus on waste removal to open up the strike length of the open pit,
which will provide more mining flexibility and is vital for the
progress towards full production levels. Mining in the North Pit moved
through a major fault structure during August and September and this
resulted in higher than average levels of fine, chloritic altered
material being mined.
The processing plant's performance was impacted by the higher levels of
the chloritic altered material and restricted by a planned, major plant
shutdown during August. The shutdown, which included a reline of the
SAG and Ball mills, was completed on time and on budget. Plant recovery
for the quarter averaged 49%, however since some additional changes to
the flotation and grinding regimes, recoveries increased to an average
above 55% from the middle of September. Recovery improvement work is
continuing.
All production continued to be within contract specifications and was
sold to Mirabela's domestic customer, Votorantim Metais Niquel S.A.
Total nickel production to date is 6,700 tonnes of nickel in
concentrate. Full year production guidance is currently tracking at
9,500 to 10,000 tonnes of nickel in concentrate. The final quarter of
2010 is expected to be strong with improved processing plant
throughput, improved plant recoveries and improved mining rates.
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SOURCE: Mirabela Nickel Ltd.