LONDON (Alliance News) - Mining firm W Resources PLC said Friday it has signed a mining contract with General da Maquinaria y Excavacion SL for the La Parrilla tungsten project in Spain.
General da Maquinara is a Spanish mining services provider.The GME team will be locally managed by a mining engineer, production foreman and safety manager responsible for the machine operating team.
The mining fleet for the La Parrilla tungsten project is said to be in place, with three 60-tonne haul trucks, an excavator and other auxiliary equipment, that will be scaled up in response to demand as ramp-up progresses.
Operationally, La Parrilla is said to be progressed well and project construction completion remains in line with guidance for the completion with the concentrator plant expected later in June.
Commissioning of the concentrator plant remains on-track to be released in July, with smaller modular plants expected to be delivered and installed early in the month.
"Following detailed negotiations, we are delighted to have awarded the mining contract for La Parrilla to GME who bring extensive experience in mining and processing. Importantly, the contract is in line with our final investment decision report, which further underpins our confidence of achieving the low operating costs we have outlined," said Chair Michael Masterman.
"The project remains within budget and we look forward to ramp-up to T2 of the project which will deliver significant earnings starting in 2019," Masterman added.
Shares in W Resources were up 2.0% at 0.45 pence on Friday.