The Conversation (0)
Avenira (ASX:AEV) reported that mining operations have now commenced at its Baobab phosphate project in Senegal. The company is targeting first production of phosphate rock by the second half of 2016.
Avenira (ASX:AEV) reported that mining operations have now commenced at its Baobab phosphate project in Senegal. The company is targeting first production of phosphate rock by the second half of 2016.
As quoted in the press release:
Avenira Limited (‘Avenira’ or the ‘Company’) is pleased to announce continued steady progress has been made on all key critical path items at the Baobab Phosphate Project (‘Project’) including mining, processing, infrastructure and water supply. The progress reflects Avenira’s accelerated strategy to break into the buoyant nutrient and fertiliser sector.
The Company’s strategy to develop the Project is based on an initial Stage 1 operation producing 500,000 tonnes per annum of phosphate concentrate. Total capital expenditure to production is $US15 million and the Project is fully funded. The operation has been designed to enable multiple stages of expansion across the Project.