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5N Plus buys bismuth from Masan's Vietnam mine
2013-10-24 11:28 ET - News Release
Mr. Jean Mayer reports
5N PLUS TO RECEIVE FIRST DELIVERY FROM VIETNAMESE BISMUTH MINE
5N Plus Inc. has entered into an exclusive long-term off-take agreement of bismuth with Masan Resources, one of the largest private sector natural resources companies in Vietnam, which is about to commence bismuth production at its world-class Nui Phao polymetallic project in northern Vietnam.
5N Plus will purchase the majority of bismuth produced at the Nui Phao mine with first delivery expected in November 2013. 5N Plus is a world leader in bismuth smelting, refining and marketing and has the ability to process Nui Phao's total production of bismuth through its plant in Laos which is conveniently located within driving distance of the Nui Phao mine, offering state-of-the-art capabilities ensuring a highly efficient and economical bismuth recovery process.
Nui Phao is a unique mine with one of the world's largest deposits of bismuth located outside China. As an open-pit mine with a low strip ratio, Nui Phao will be one of the world's lowest cost producers of bismuth. The project will produce refined tungsten products, acid-grade fluorspar, bismuth concentrate and copper concentrate. The products will be separated from the ore using a combination of conventional froth flotation and gravity separation processes. The project is spread over an area of 9.21 km2 in the Dai Tu District of the Thai Nguyen Province, only 80 km from Hanoi and about 180 km and 240 km from the Hai Phong and Quang Ninh ports, respectively. Basic infrastructure including roads, rail lines and access to power and water provides convenient access for shipping products from the project.
"We are pleased to have secured long term exclusive access to the bismuth concentrates to be produced at the Nui Phao mine which is expected to be one of the world's largest sources of bismuth. This will further strengthen our supply chain and provide greater flexibility building on our strong support from sources in China as well as elsewhere in the world. We are the world's leading producer of high purity bismuth and bismuth chemicals, and this new agreement underscores our willingness to maintain our leadership role in these markets" said Mr. Jacques L'Ecuyer, President and Chief Executive Officer of 5N Plus.
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