15 Nov 2010 08:40
15 November 2010
Bellzone Mining plc
("Bellzone" or the "Company")
Appointment of Kalia Mine Project Director
Bellzone Mining plc (AIM:BZM), the iron ore and nickel / copper company developing the Kalia Iron Mine in the Republic of Guinea, West Africa, is pleased to announce the appointment of Dr Bryan Pearce as the Project Director of its flagship Kalia Mine, effective 10 November 2010.
• Dr Pearce is a specialist in mining, processing and heavy industry project management
• Dr Pearce holds a number of engineering qualifications, a Masters and PhD in Business Administration
• Dr Pearce has in excess of 25 years experience in the areas of engineering, construction and project management for large projects within the mining and hydrocarbon sectors. He has held a number of senior management positions, including Project Director of major projects in the mining sector, and has worked extensively for consulting companies such as Bechtel and WorleyParsons, and for operating companies, such as the Fortescue Metals Group and ExxonMobil.
Dr Pearce joins as the Kalia Mine initiates magnetite bulk sampling, commences site demarcation, clearance and excavation work for both the construction camp and project infrastructure. Bryan brings with him international work experience, which is beneficial for the successful implementation of the Kalia Mine project. He has worked in the UK, Europe, North Africa, Asia, the Middle East and Australia. Bryan provides project leadership with a unique blend of project management rigour and commercial reality as demonstrated by his recent experience overseeing mining projects for the Fortescue Metals Group where he proved his capability of delivering projects within aggressive schedules and budgets.
The Company confirms that the development work toward announcing its maiden JORC oxide resource continues in line with plans for completion in Q4 2010 and announcement in Q1 2011 and that the magnetite exploration programme continues to expand the current JORC resource of 3.74b tonnes.
Graham Fyfe, Chief Operating Officer commented: "Bryan's appointment is a coup for Bellzone given his record of delivery in mining projects. Bryan joins us at an exciting time with the oxide programme ready to start producing results, magnetite bulk sampling underway, site clearance and development work commencing for the construction camp and project infrastructure requirements at our Kalia Mine.
Bryan has spent his first days with the senior members of his project team meeting and evaluating the candidates for the consultant's role for undertaking our definitive feasibility studies. This is the final stage of our tender adjudication process and will be completed this quarter as planned. The project team has already consolidated under Bryan's leadership and we look forward to him building on his track record with Bellzone. In addition to welcoming Bryan to the team, we'd like to thank Nick Humphry for his contribution to the project and wish him well for the future."
Enquiries:
Bellzone Mining plc Graham Fyfe |
+61 8 9420 8900end_of_the_skype_highlighting |
Canaccord Genuity Limited Nominated Adviser and Joint Broker to Bellzone Andrew Chubb/Tarica Mpinga
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+44 (0)20 7050 6500 end_of_the_skype_highlighting |
Renaissance Capital Limited Joint Broker to Bellzone Simon Matthews/Thomas Beattie
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+44 (0)20 7367 7777
end_of_the_skype_highlighting |
Conduit PR Jos Simson/Paul Youens |
+44 (0)20 7429 6603 begin_of_the_skype_highlighting +44 (0)7899 870 450 begin_of_the_skype_highlighting end_of_the_skype_highlightingend_of_the_skype_highlighting |
Bellzone Mining plc
Bellzone Mining plc is an exploration and resource development company with iron ore and nickel / copper permits in the Republic of Guinea, West Africa.
The Company's flagship project, the Kalia Iron Mine has a JORC resource of 3.74 billion tonnes, located on the Kalia I prospect. Drilling results and internal estimates indicate that Kalia Prospect has the potential to host more than 10 billion tonnes of magnetite and 2.55 billion tonnes of oxide at surface.
Exploration work continues to further define the potential at Kalia I on both the magnetite and oxide at surface.
Bellzone is committed to the staged development of the Kalia Iron Project, which includes a 50mtpa iron ore facility, rail and port, with initial production scheduled in 2014. Stage one is planned to bring online 20mtpa direct shipping ore ('DSO') capacity in 2014 and a 10mtpa magnetite concentrator in 2015. Stage two increasing the DSO output to 30mtpa in 2017 and doubling the concentrate capacity to 20mtpa by 2018.
Bellzone signed an Infrastructure Accord with the Republic of Guinea giving the Company exclusive rights to the designated port and rail areas for purposes of conducting studies for the development of the infrastructure leading to the signing of a convention and concession. The infrastructure forms a key part of the Guinea Government's infrastructure strategy and will support the development of iron ore, bauxite and other minerals in Guinea through its availability for 3rd party use.
On 2 August 2010, Bellzone signed definitive agreements with China International Fund ('CIF'). CIF will finance and develop the rail and port infrastructure and offer a finance package to Bellzone for the development of the Kalia Mine in exchange for the first right to purchase 100% of the off-take of the Kalia Mine at market price.
An exploration programme is currently underway at the Forecariah Iron Permits that lie between 40 and 80kms from the Guinea coast. Bellzone and CIF will jointly develop these permits which are prospective for oxide and magnetite. The oxide has the potential to deliver cash flow from a Direct Shipping Ore project in the short term.
Bellzone has competed an intensive mapping and surface sampling programme and has defined highly prospective drilling targets at its Sadeka Nickel/Copper Project and will commence a drilling programme on these targets in Q4 2010.