Mindoro Resources' joint venture produces first nickel from Agata, Philippines
Mindoro Resources (ASX:MDO, TSXV:MIO; Frankfurt: WKN 906167) has advised that joint venture partner, TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) has produced nickel from the joint venture’s Agata North project in the Philippines.
A nickel hydroxide product filter cake was produced with a 52% to 54% nickel grade, with low impurities such as iron and cadmium.
The end result is a versatile intermediate nickel product that may be directly processed to nickel oxide or nickel metal with no further refining.
The Agata DSO project holds Proven and Probable Reserves of 9.70 million wet metric tonnes grading 48% iron with 0.9% nickel, and the joint venture is currently seeking the final required permits to allow the operation to commence.
This is another significant milestone that validates both production and cost efficiencies of their counter-current ion exchange, process.
The technical program is on track to provide metallurgical data required to design the proposed full-scale pilot plant, a crucial step towards the bankable feasibility study, currently in progress.
Mindoro has four joint venture agreements with TVI, whereby TVI may earn up to 60% interest in the Agata and Pan de Azucar projects, both in the Philippines.
These joint ventures present Mindoro with multiple growth opportunities for near term cash flow generation.
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