Xtract Resources Plc has completed work on the processing plant at its Chepica gold and copper mine, in Chile, recommended by the Inspector of Mines following a double fatality in the plant on 24 December 2015. The company expects approval shortly to enable the plant to restart. Since the temporary shutdown, the mine has continued to operate, with ore being stockpiled.
Meanwhile, at Xtract’s Manica gold project acquisition, in Mozambique, after a ruling on capital gains tax, all conditions of the purchase agreement have been fulfilled and the company now expects to complete the acquisition from Auroch Minerals NL by the end of February. Xtract is on track with the proposed development work at Manica and is making good progress towards finalising the updated gold resource and bankable feasibility study.
Xtract Resources to restart gold plant shortly: XTR