PERTH (miningweekly.com) – The receivers and managers of iron-ore junior Pluton Resources were in the process of formulating a long-term mining and operations plan for the Cockatoo Island project, the company said this week.
In November this year, project house Watpac was ordered to undertake a limited scope of mining work at the Cockatoo Island operations, after the mining services contract was suspended after Pluton’s junior Chinese creditor Rizhao Port Group appointed receivers and managers to Pluton.
The ASX-listed company subsequently reached an agreement with Rizhao on a revised payment regime to satisfy the debt owed to the Chinese firm. The company also ordered a shipment of ore to its security holder General Nice Resources Commercial Offshore De Macaw Limitada (GNR).
Pluton said this week that Watpac has now started mining and ore loading to fulfill these shipments, and the first ship was due to be loaded this month, with the second due in January.
Watpac has already loaded a shipment for GNR, which has been pre-paid by the security holder.
Pluton’s receivers and managers were now in discussions with GNR regarding a pre-pay agreement for the outstanding two shipments.