HomeBase MetalsAlbidon earns first income from Munali

Albidon earns first income from Munali

The box cut at
Albidon’s Munali nickel
project in Zambia
Perth, Australia — MININGREVIEW.COM — 14 October 2008 – ASX and AIM-listed Albidon Limited – an Africa-focused exploration and development company with an emphasis on nickel – has reached another major milestone in its Munali project in Zambia by receiving its first revenue the venture has earned.

A company statement released here revealed that first revenue from the sale of Ni-Cu-Co-PGM concentrate, to the Jinchuan Group in China, had been received by the company earlier this month. It described the development as “a significant step in Albidon’s transition from developer to producer.”

The statement added that final completion of the Munali construction contract had been achieved, the construction contractor had been demobilised, and a number of minor “punch list” items were being addressed as part of the plant’s scheduled maintenance programme.

Commissioning of the processing facility was progressing well with nameplate capacity of 900 000tpa being achieved on a number of occasions with no discernable problems. Expansion to 1.2 Mtpa was underway and expected to be achieved in the first quarter of 2009.

The Albidon statement added that the dedicated 33kV power line to the project has been completed and energised – a major step forward, as power supply from the Zambian grid had been disruptive to operations.

It went on to say that most buildings on site had been completed, with only the stores and administration buildings outstanding and due for completion this month. Mining development rates were on target, and stoping operations had commenced.