Base Resources Limited Kwale Operations to complete mining at end of 2024
2023年10月30日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMBSE
AIM and Media Release
30 October 2023
Base Resources Limited
Kwale Operations to complete mining at end of 2024
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base
Resources or the Company) advises that, following an exhaustive exploration and
evaluation process seeking to further extend the life of the Company's Kwale
Operations in Kenya, mining is expected to end in December 2024 as per the
current mine plan. Processing activities will conclude shortly thereafter.
After completing the previously announced evaluations of the two remaining near
mine prospective areas, being the Kwale North Dune Mineral Resource not
currently in the mine plan and the Kwale East exploration area, both lack
sufficient grade or scale to support the capital investment required to extend
or establish new mining operations. A significant factor in these evaluations
is the limited remaining capacity of the Kwale Operations tailings storage
facility, with any extension to the existing mine plan requiring an alternative
tailings disposal solution that comes with a significant capital expenditure
requirement and increased operating costs. Additional key factors considered in
the Company's evaluations included the softening product price outlook for
mineral sands over the relevant period, and the cost, timing and human impact of
a substantial land acquisition and community resettlement program.
On this basis, when existing Kwale Ore Reserves are fully depleted by December
2024 as expected, Kwale Operations will transition to post-mining as planned.
Managing Director of Base Resources, Tim Carstens, said:
"We have explored all avenues for further extending the life of Kwale
Operations. However, despite these efforts and broad support from the local
community, we have been unsuccessful in identifying additional mineral deposits
of sufficient grade or scale to support a further extension. The Company's
focus at Kwale now necessarily turns to detailed closure planning and transition
to post mining land use whilst ensuring we continue to safely extract maximum
value from the remaining ore reserves.
Kwale Operations has been the foundation on which we have built Base Resources,
and while it will be sad to reach the end of a mining operation in which we have
such pride, we see the transition to post-mining as an opportunity to further
cement our reputation for excellence in the full life cycle of mining. We look
forward to reporting on progress as we move through this important next phase at
Kwale.
With Kwale Operations now coming to an end, the next phase of shareholder value
creation will come from progression of the world-class Toliara Project to
development and realising its rare earth potential, accelerating our wider
Kenyan exploration efforts with the recent lifting of the licensing moratorium
and pursuing attractive business development opportunities to broaden our option
set. We are tackling the challenge with focus, urgency and resolve."
This release is accompanied by the "Kwale East - Exploration update"
announcement which provides further detail about the recently completed drilling
at the Kwale East exploration area.
ENDS
For further information contact:
+--------------------------------+-----------------------------+
|Australian Media Relations |UK Media Relations |
+--------------------------------+-----------------------------+
|Citadel Magnus |Tavistock Communications |
+--------------------------------+-----------------------------+
|Cameron Gilenko and Michael Weir|Jos Simson and Gareth Tredway|
+--------------------------------+-----------------------------+
|Tel: +61 8 6160 4900 |Tel: +44 207 920 3150 |
+--------------------------------+-----------------------------+
This release has been authorised by the Board of Base Resources.
About Base Resources
Base Resources is an Australian based, African focused, mineral sands producer
and developer with a track record of project delivery and operational
performance. The Company operates the established Kwale Operations in Kenya and
is developing the Toliara Project in Madagascar. Base Resources is an ASX and
AIM listed company. Further details about Base Resources are available at
www.baseresources.com.au.
PRINCIPAL & REGISTERED OFFICE
Level 3, 46 Colin Street
West Perth, Western Australia, 6005
Email: info@baseresources.com.au
Phone: +61 8 9413 7400
Fax: +61 8 9322 8912
NOMINATED ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: +44 20 7523 8000
JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800
This information was brought to you by Cision http://news.cision.com
END
(END) Dow Jones Newswires
October 30, 2023 03:00 ET (07:00 GMT)
Base Resources (LSE:BSE)
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から 4 2024 まで 5 2024
Base Resources (LSE:BSE)
過去 株価チャート
から 5 2023 まで 5 2024