Metals X Limited (ASX:MLX) – Commissioning of new crushing and ore sorting facility

Recently, Metals X Limited (ASX:MLX) announced that the Tasmanian tin joint venture, Bluestone Mines Tasmania JV (BMTJV) (50 per cent Metals X) has commenced commissioning of its new crushing and ore sorting facility at its Renison Tin Mine (Renison). It is expected that ore sorting will increase the annual tin production at Renison by 15-20 per cent and it works on the strategy of ore sorter that is to increase underground ore production to approximately 920,000 tonnes per annum while maintaining the processing plant at approximately 720,000 tonnes per annum. Further, the ore sorter will reject an estimated 200,000 tonnes per annum of waste at the crushing stage and will upgrade the ore before the processing plant.

The new purpose-built three stage crushing, screening and ore sorting plant has been constructed at a capital cost of approximately $15 million and the payback for the project is estimated to be less than 10 months at current tin prices. As introducing the ore sorting, additional areas within the underground mine have been developed and a significant surface stockpile of ore has been accumulated with an increase in production rates. As the new tails dam (“D Dam”) is already in operation and with the commissioning of the ore sorter, the major capital expenditure program at Renison is complete. This operation is fully set for the long-term future, with increased production capacity and additional flexibility to allow the BMTJV to exploit the large resource base at Renison. The stock slipped marginally by 0.629 per cent and traded at $0.79 (as on 3 July 2018 02:45 PM AEST).


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