News and Announcements
Acquisition of Iron Production Asset and Divestment of Cautiva-Victoria
- Published June 28, 2012 2:38AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Condor Blanco Mines Ltd (“Condor Mines,” “the Company”) has reached agreement with Mr. Eduardo Aguirre, the vendor of a magnetic iron tailings in Copiapo, Chile. Condor Mines will mine and process magnetic separation. The material is already crushed and production is expected by the end of the year, pending statutory approvals process following installation of simple Low Intensity Magnetic Separation (LIMS) equipment. Due to crushing and milling not being required, capital expenditure to begin production is minimal. The Company has an existing production team established in Copiapo, led by Operations Manager Jose Bahamondes.
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