https://www.miningweekly.com

Valence extends the mine life at Uley 2

14th May 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed graphite developer Valence Industries has reported a 43% increase in the Joint Ore Reserves Committee-compliant reserve of its Uley Pit 2, in South Australia.

The ore reserve is now estimated at 2.91-million tonnes, containing 353 618 t of graphite.

Valence noted on Thursday that the increase in the ore reserve was based on about one-third of the results from a current drilling programme across the Uley Pit 2 extension, with the remaining two-thirds of the drilling and assays still to be received.

The increased ore reserve underpinned a 60% increase in the current life-of-mine for the Uley Pit 2, which was now estimated at eight years, based on the production of 64 000 t/y of graphite.

Valence recently secured $75-million in debt financing to fund the planned expansion of the Uley project, from 14 000 t/y to an ultimate 64 000 t/y by 2017/18.

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.195 0.231s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: