International audit gives Shabanie thumbs up

Source: International audit gives Shabanie thumbs up | The Sunday Mail

Ishemunyoro Chingwere
According to findings of a 2006 audit by an Australian based internationally acclaimed professional body – the Joint Ore Reserve Committee (JORC), which specialises in codes for public reporting of minerals exploration results, mineral resources and ore reserves, the case for investment into Shabanie Mine is compelling.

The initial audit shows that, in the short term, the mine has a capacity to produce silky ore and brittle ore fibre worthy $765 million over the next 16 years at an annual capacity rate of 78 000 tonnes per year.

The internationally sought after silky ore constitutes the bulky of the reserves which can earn the mine $689 million from the mining out of about 18, 1 million tonnes with an annual average output of at least 72 000 tonnes per year from their plant which has a 75 000 tonnes per year capacity.

Audited results also show that the mine has over 2,33 million tonnes in the less sought brittle ore reserves which can be exploited over the next 16 years at an annual rate of 6 000 tonnes per year earning the mine a total of $76, 66 million.
Plans are afoot for further exploration to quantify what the mine can produce in the long-term but indications from the host rock are that the silky will still dominate.