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  • Remarkable Progress Continues For Bellzone Mining PLC (AIM: BZM) 0 comments
    Nov 13, 2012 2:49 PM | about stocks: BZM

    Bellzone Mining is an exploration and resource development company listed on the London Stock Exchange. A Jersey registered company, Bellzone is engaged in the development of two iron ore and nickel/copper assets in the Republic of Guinea, West Africa.

    The Kalia Mine Project, Bellzone's flagship project, is anticipated to commence production in 2015. The project is projected to produce iron ore and iron ore concentrate at an annual rate of 50 million tonnes. The Kalia Mine Project has 1.46 billion tonnes of contained iron JORC resources in 6.16 billion tonnes of magnetite, as well as 193 million tonnes of oxide and 9.25 million tonnes of Supergene BIF. The oxide and Supergene BIF resources have been established from just 10.5 percent of the 55 km2 of the mapped surface oxides on the Kalia permit, and the magnetite has been established over 7 kilometers of the 19-kilometer Kalia I strike. It has been indicated by drilling results and internal estimates that the Kalia Mine Project has the potential to host more than 10 billion tonnes of magnetite and 2 billion tonnes of oxide.

    Bellzone has an agreement with China International Fund Limited (NYSE:CIF) to fund and develop the needed rail and port infrastructure to export the production from the Kalia mine. Bellzone and CIF have additionally fully funded a joint venture to undertake the accelerated exploration and development program at CIF's Forécariah iron permits, which lie between 30 and 80 kilometers from the coast of Guinea. Guinea Development Corporation (GDC), a subsidiary of CIF, holds the Forécariah permits, which will be transferred to the JV operations company Forécariah Guinea Mining SA. Commissioning production began on schedule in the first quarter of this year, and production will be at an initial rate of 3-4 mtpa ramping to a rate of 10 mtpa.

    Furthermore, Bellzone has completed a mapping and surface sampling program that identified highly prospective targets at its Sadeka Nickel/Copper Project. A VTEM aerial survey has been completed and prospective targets identified. A drilling program has commenced with initial results expected in the current quarter.

    For more information on Bellzone Mining, visit www.bellzone.com.au

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: BZM
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