The Agata projects are advancing nicely. The Agata DSO project:
- Permitting status
The Agata DSO project is well into the permitting stage with the environmental protection and enhancement program and the final mine rehabilitation and decommissioning plan under review by the Mine Rehabilitation Fund Committee. Final approval of the declaration of mining project feasibility is then expected to follow, which will allow the project to move into development. The Agata high-iron DSO project already has an existing environmental compliance certificate.
- DSO market
The region in which the Agata DSO project is situated in northeastern Mindanao, hosts approximately 15 DSO operations at present that cumulatively exported 17.3 million wet metric tonnes and 19.2 million wet metric tonnes in 2011 and 2012, respectively. TVI is currently in discussion with offtakers that have expressed interest in the Agata DSO product.
- Port loading facility and infrastructure
Further to development plans and initial predevelopment activities announced as being under way Feb. 11, 2013, 100 per cent of land required for the road network has now been acquired in co-ordination with the local government unit, while 90 per cent of land required under the current design of the port facility has been acquired. The planning and design of port construction, as well as for roads and other infrastructure, are proceeding.
- Financing - TVI Pacific to sell 68% of TVI Marketing to Prime Asset
The funds ( $11.5 million U.S. ) received from the issuance of TVI Marketing shares to PAVI are expected to be used for working capital and to advance various projects, including, most notably, the Agata direct shipping ore project, located in Agusan del Norte, Mindanao, the Philippines.
the Agata nickel laterite ore project:
- Pilot-scale testing of Agata ore by BGRIMM is complete;
- Results confirm excellent leachability obtained during bench-scale testing;
- Extraction of 93.5 per cent to 94.5 per cent nickel obtained over the two-stage leaching process;
- Favourable acid consumption in the range of 48 tonnes to 50 tonnes acid per tonne nickel leached;
- Vendor test work completed and all design parameters obtained for preleach thickener, countercurrent decantation and residue filtration design;
- 8,000 litres of pregnant leach solution produced from BGRIMM leaching campaign and shipped to producer for offtaker evaluation;
- TVI's Philippine pilot plant commissioned and production of nickel hydroxide product (NHP) to commence in the second half of October, 2013.