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Mandalay says Japan smelter lifts force majeure
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14th April 2011
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TORONTO (miningweekly.com) – TSX-listed Mandalay Resources has received formal notification from Dowa Metals and Mining that it has removed a status of force majeure at the Kosaka smelter in Japan, the company said on Thursday.

Dowa is the main customer for concentrates produced at Mandalay's Cerro Bayo silver/gold mine in Chile, and declared force majeure on March 16, following the devastating earthquake and tsunami in Japan.

“The company is very encouraged by this rapid return to normal operations at Kosaka and expects to resume shipments of concentrates from its Cerro Bayo silver/gold mine before the end of the month, with the normal shipping schedule to resume in May,” Mandalay said in a statement.

The company has continued normal operations at Cerro Bayo, and has been stockpiling concentrates.

All sales that were delayed during the force majeure declaration are expected to be completed over the next six months, the firm said.

Mandalay shares rose 1,7% on Thursday morning, to C$0,59 apiece by 11:04 in Toronto.

Edited by: Creamer Media Reporter

 

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