Bellzone Mining Regulatory News (BZM)

RNS Number : 4327R

Bellzone Mining PLC

23 August 2010

 

 

23 August 2010

Bellzone Mining plc

("Bellzone" or the "Company")

 

Appointment of Kalia Mine project director

 

·; Mr. Nick Humphry appointed as project director of the Kalia Mine

·; Mr. Humphry is a specialist in mining, processing and heavy industrial project management

 

Bellzone Mining plc (AIM:BZM), the iron ore and nickel/ copper exploration company developing the Kalia Iron Mine in the Republic of Guinea, West Africa, is pleased to announce the appointment of Mr. Nick Humphry as Project Director for the Kalia Mine effective 18 August 2010.

 

Mr. Humphry has over 30 years experience in the project management and development of large resource projects. He has held a number of senior project management positions including the head of department with BHP Iron Ore for the planning of future major expansions, Senior Technical Consultant for Rio Tinto's Iron Ore Expansion Projects focusing on the Iron Ore Company of Canada's magnetite process and rail and port expansions and Group Project Manager to RGC Ltd.

 

In addition, Mr. Humphry spent three years advising the Government of Western Australia on the development of major state resources.

 

Mr. Humphry holds a Bachelor of Mechanical Engineering from the University of Western Australia and a Masters Degree in Business Administration from the University of Toronto.

 

Commenting on the appointment Nik Zuks, Managing Director of Bellzone Mining plc said, "Bellzone's project and development team is strengthened with Nick's appointment and we continue to add quality experienced candidates to drive the project to completion. Nick's personality and extensive experience in developing and delivering multi-billion dollar bulk commodity and base metal projects around the world, is ideally suited to leading our project forward to meet the forecast project development plan."

 

 

Enquiries:

 

Bellzone Mining plc Nik Zuks	+61 439 420 893
Canaccord Genuity Limited Nominated Adviser and Joint Broker to Bellzone Andrew Chubb/Tarica Mpinga	+44 (0)20 7050 6500
Renaissance Capital Limited Joint Broker to Bellzone Simon Matthews/Thomas Beattie	+44 (0)20 7367 7777
Conduit PR Jos Simson/Paul Youens	+44 (0)20 7429 6610 / +44 (0) 7843 260 623

 

Bellzone Mining plc

 

Bellzone Mining plc is an iron-ore and nickel/ copper exploration and development company with assets in Guinea, West Africa. The Company's flagship project, the Kalia Iron Mine has a maiden inferred magnetite JORC resource of 2.4 billion tonnes, located on the Kalia I prospect. Previous drilling results and internal estimates indicate that the Kalia Prospect has the potential to host more than 13 billion tonnes of magnetite and 2.9 billion tonnes of oxide at surface. Exploration work continues to further define the potential at Kalia. The SEIA and EIA studies are underway to support the completion of the Bankable Feasibility Study.

 

 Bellzone intends to develop a 50 million tonnes per annum ('mtpa') iron ore production through a two staged approach. First production is expected in 2014 at a rate of 20mtpa which is expected to fund the ramp up period to a rate of 50mtpa in 2018.

 

Bellzone announced the signing of an Infrastructure Accord with the Guinea Governemnt on 17 June 2010. The Accord gives Bellzone the exclusive rights to study and develop the rail and port infrasturtcutre required to support the Kalia Iron Project.

 

On 2 August 2010, Bellzone signed definitive agreements with China International Fund ('CIF') which provides for the full financing of the rail and port infrastructure and the Kalia mine development in return for the rights to purchase 100% of the off-take at market price. In addition Bellzone and CIF will develop the highly prospective CIF Forecariah iron ore leases under a 50/50 jiont venture arrangement. This will provde an opportunity to produce early cash flow for the Company.

 

Bellzone is listed on the AIM market of the London Stock Exchange under the ticker 'BZM'.

This information is provided by RNS

The company news service from the London Stock Exchange