Atlantic Limited Rebuilds Vanadium Ore Beneficiation Plant Destroyed by Fire

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Researched by Industrial Info Resources Australia (Perth, Australia)--Atlantic Limited (ASX:ATI) (Perth, Western Australia) has announced that it will rebuild its beneficiation plant at the Windimurra Vanadium Mine. The company's insurers have accepted the liability under the insurance policy.

The Windimurra Vanadium Mine and Processing Plant is approximately 49 miles (80 kilometers) from Mount Magnet and 372 miles (600 kilometers) north of Perth, Western Australia. The four-story plant was destroyed by fire on February 4, 2014. The fire was quickly brought under control, and no workers were injured in the blaze. However, the damage to the plant was extensive, with losses estimated at $90.59 million (AUD$100 million). The company forecasted a nine-month production delay.

Michael Minosora, former Managing Director of Atlantic, said that it could be more expensive to repair the damaged plant than to rebuild it from scratch: "Sometimes trying to preserve what you have costs a lot more than simply starting from a fresh place." Atlantic asked an engineering team to investigate the cause of fire and assess the damage and rebuilding costs.

Construction for the beneficiation plant's rebuild is scheduled to begin in the second half of 2014. The damage also has affected the operation of the other processing circuits, so Atlantic has taken this opportunity to begin a maintenance shutdown for the rotary kiln and other processing circuits. Contractors are welcome to express interest in the rebuild and maintenance projects.

Atlantic acquired the Windimurra Vanadium Processing Plant, including the crushing, milling and beneficiation plant, from Mineral Resources Limited (ASX:MIN) (Perth) in 2010. The Windimurra Vanadium Mine has an annual production of approximately 6,300 tonnes.

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