The agreement was effective 1 May 2016.
The Basil Read contract secures the necessary labour and equipment (including an excavator, grader, front-end loader, hydraulic hammer and trucks) to commence near surface mining at Kombat Copper’s Gross Otavi mining license later this month.
EBM expects to commence mining at the main Central Pit on the “Kombat Central” portion of the property early in the third quarter.
[quote]The Kombat mill refurbishment and clean-up is progressing well and remains on target.
Paul Bozoki, President and CEO of Kombat Copper, having just returned from Namibia, commented: “It is clear that EBM is preparing for production at the Kombat mine. We are pleased to see that they have selected and contracted a well-respected mining sub-contractor who will be mobilising to commence surface mining at Gross Otavi and the Central Pit while also refurbishing the Kombat mill; which is expected to be in operation late in the third quarter.”
Kombat Copper contracted EBM Mining Nambia to begin mining lead/copper mineralisation at Kombat East, Kombat Central and Gross Otavi within the year. Concentrates are expected to be produced at the Company’s production facilities, which are being refurbished by EBM. EBM is also evaluating opportunities to market aggregate stone and sand byproducts locally.