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Wednesday, 23 July 2014

Namibian lead and zinc mine gets another chance

London exploration company North River Resources has secured a US12-million dollar equity funding commitment from private equity firm Greenstone Resources. It will be used to re-open its flagship Namib lead and zinc mine near Swakopmund in Namibia.

The company has released a mine development plan and site preparation and work to complete a feasibility study has begun. Consultants Snowden estimate a mine and plant capital expenditure of US25-million dollars, based on a 56-month production period, with 660 000 tonnes (t) of milled current inferred resources averaging 8,5% combined lead-zinc and 46 grams per tonne of silver.