Klondex achieves two significant milestones at Nevada operation
TORONTO (miningweekly.com) – TSX-listed exploration and development company Klondex Mines on Monday said it had achieved two significant milestones at its Fire Creek project by delivering the first shipment of ore to Newmont Mining for processing and by converting the complex to use electrical grid power instead of generator power.
The first shipment of 1 000 t of Fire Creek material to Newmont began on August 5. Klondex expected to receive payment for this shipment in the third quarter.
Further, the power line was now fully connected and energised by way of the Klondex-owned substation, which was built in 2012. The substation was connected to the Nevada Energy electrical grid earlier this year.
As a result of this achievement, Klondex said it now expected increased efficiencies in its development work, as well as a significant reduction in the unit cost for electricity.
"We're extremely pleased with the timely progress the team is making during this pivotal year for Klondex. Processing the Fire Creek material through Newmont's milling facility allows us the opportunity to monetise the mineralised material from the underground development programme,” Fire Creek GM Mike Doolin said in a statement.
He added that energising Fire Creek with grid power allowed greater flexibility and support for its increasing power needs as the operation continued to develop.
“Assuming our consumption increases on average by 30% and the unit cost decreases to $0.12/kWh, we expect to realise a saving of about 25% of the current power costs,” he noted.
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