PERTH (miningweekly.com) – ASX-listed junior Myanmar Metals has unveiled an accelerated path to redevelop the Bawdwin polymetallic mine, in Myanmar.
Myanmar and its joint venture (JV) partners Win Myint Mo Industries (WMM) and EAP Global Mining Company have defined a number of clear project milestones for the next 12 months, the company said on Wednesday.
The milestones will include exploration programmes, a range of engineering and metallurgical studies, prefeasibility and feasibility studies, updates to the reserve and resource assessment, as well as offtake and project financing negotiations.
The completion of the prefeasibility is targeted for early 2019, and will feed into a feasibility study, which is planned for completion by later that same year. The JV partners are hoping to start construction in 2020, and commissioning and first ore processing by late 2021.
“We have a first-rate team who can work to an accelerated time frame and complete the studies needed to advance this world-class project towards development,” said Myanmar executive chairperson and CEO John Lamb.
“Our attention will be in diligent execution of our work programmes to ensure the re-development of Bawdwin is optimised. Our milestones are clear, and we believe substantial value will be realised for shareholders on their achievement.”
The Bawdwin concession contains a tier-one polymetallic deposit with a maiden Joint Ore Reserves Committee-compliant resource of 82-million tonnes, at 4.7% lead, 119 g/t silver and 2.4% zinc.
Prior to the Second World War, Bawdwin was the largest producing lead mine, and one of the largest producing silver mines in the world. After the Second World War, the Myanmar State held the mining concession until 2009, when it was acquired by WMM.