MONTREAL, Oct. 24, 2013 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the
leading producer of specialty metal and chemical products, is pleased
to announce that it 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.
About 5N Plus Inc.
5N Plus is the leading producer of specialty metal and chemical
products. Fully integrated with closed-loop recycling facilities, the
Company is headquartered in Montreal, Québec, Canada and operates
manufacturing facilities and sales offices in several locations in
Europe, the Americas and Asia. 5N Plus deploys a range of proprietary
and proven technologies to produce products which are used in a number
of advanced pharmaceutical, electronic and industrial applications.
Typical products include purified metals such as bismuth, gallium,
germanium, indium, selenium and tellurium, inorganic chemicals based on
such metals and compound semiconductor wafers. Many of these are
critical precursors and key enablers in markets such as solar,
light-emitting diodes and eco-friendly materials.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the
meaning of applicable securities laws. All information and statements
other than statements of historical facts contained in this press
release are forward-looking information. Such statements and
information may be identified by words such as "about",
"approximately", "may", "believes", "expects", "will", "intends",
"should", "plans", "predicts", "potential", "projects", "anticipates",
"estimates", "continues" or similar words or the negative thereof or
other comparable terminology. Forward-looking statements are based on
the best estimates available to 5N Plus at this time and involve known
and unknown risks, uncertainties and other factors that may cause
5N Plus' actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. A description
of the risks affecting 5N Plus' business and activities appears under
the heading "Risks and Uncertainties" of 5N Plus' 2012 MD&A dated March
28, 2013 and Note 13 of the unaudited interim condensed consolidated
financial statements for the three‐month periods ended June 30, 2013
and 2012 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the
forward-looking information in this press release will transpire or
occur, or if any of them do so, what benefits that 5N Plus will derive
therefrom. In particular, no assurance can be given as to the future
financial performance of 5N Plus. The forward-looking information
contained in this press release is made as of the date hereof and
5N Plus undertakes no obligation to publicly update such
forward-looking information to reflect new information, subsequent or
otherwise, unless required by applicable securities laws. The reader
is warned against placing undue reliance on these forward-looking
statements.
SOURCE 5N Plus Inc.
