Ormonde Mining to Reopen Copper and Gold Mine in Spain

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Researched by Industrial Info Resources (Sugar Land, Texas)--Ireland-based miner Ormonde Mining plc (ISE:ORQ) (Navan, Ireland), through its subsidiary Ormonde Espana SL (Salamanca, Spain), is planning to submit a proposal this month to Spanish authorities to reopen La Zarza mine, in southern Spain's Huelva province. The mine, which has been closed since 1991, is a sulfide deposit with significant copper, gold and zinc resources.

Ormonde Mining plc is planning an initial investment of €100 millon ($144 million) to redesign and rebuild an underground mine and construct a processing plant with a production capacity of 600,000 tons per year.

Studies are being held to improve the feasibility of the project, especially in relation to environmental issues, which tend to delay permitting for mining projects. Once approved, construction of La Zarza project will take 26 months, including the processing plant and related facilities.

In addition to this project, Ormonde Mining, through a joint venture with Antofagasta plc (PINK:ANFGY) (London, England), has asked the Huelva Government for permission to explore four nearby fields that could increase the life of mine. La Zarza has belonged to Ormonde Mining has had ownership in La Zarza in 2004 and has held a 100% interest since 2007.

Ormonde Mining plc is a mineral resource company, developing mining projects and carrying out exploration in Spain. It owns the Barruecopardo tungsten project, worth €30 million, which entails the construction of an open-pit mine and a processing plant with a production capacity of 130,000 tons per year of tungsten concentrate.

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