Major Algerian Project Milestone Achieved for Strathalbyn based Terramin Australia Ltd
Tala Hamza Zinc Project – Mining Permit Issued for world class ore body
South Australian company Terramin Australia Limited (ASX: TZN) (Terramin) is pleased to announce the achievement of a major project milestone with the Algerian mining regulator issuing the Mining Permit for the Tala Hamza Zinc Project (Tala Hamza).
The issuance of the Mining Permit means that Tala Hamza has satisfied all Algerian regulatory, financial and environmental requirements and that it can now proceed towards development. In collaboration with our Algerian partners, this Mining Permit will allow for the mining and processing of 2.0mtpa of ore instead of the 1.3mtpa anticipated in the 2018 Tala Hamza Definitive Feasibility Study, indicating that project returns will be enhanced over the anticipated 20+ year mine life. The Mining Permit encompasses all the area of land required for operation of the mine including mining, processing, haul roads, ore stockpiles, tailings dams, concentrate handling and maintenance and administration.
Commenting on the issue of the Mining Permit, Terramin’s Executive Chairman Mr. Bruce Sheng said: “Terramin is exceptionally delighted to have received the Mining Permit for Tala Hamza. The Mining Permit is the most critical factor in any new project development and is the most important achievement towards project implementation. Having this Mining Permit finalised and issued by the Algerian mining regulator, has been an enormous accomplishment for the entire team at Terramin including our board, management and all staff who have been associated with this major world class project. I would like to personally thank all those involved. On behalf of the Terramin board and management team we would like to thank the Algerian regulators for their cooperation and support throughout this entire process and our Algerian partners for the solid business relationship we have developed and their continued willingness of working closely with us to achieve this incredible milestone.”
ABOUT TALA HAMZA ZINC PROJECT
Tala Hamza is located on the Mediterranean coast of Algeria approximately 15 kilometres from the port city of Bejaia.
Bejaia has a deep-water port facility and an international airport. The project is close to major rail, road and energy infrastructure.
Tala Hamza is a world class ore body, and with the issue of this Mining Permit and Tala Hamza now proceeding towards development, it will become one of the largest developing zinc and lead deposits in the world.
Additional upside exists as well with the Tala Hamza deposit remaining open to the east and southeast, allowing potential to expand production. In addition, the Tala Hamza district is heavily mineralised and there are a number of nearby under explored zinc targets in vicinity to our Mining Permit that provide us with high exploration potential that we can also pursue with confidence as a result of this successful issue of the Mining Permit.
Terramin is enthusiastic about the next phase in its development of Tala Hamza and looks forward to an exciting and prosperous future for the company. (The Board has approved this ASX announcement)
For further information, please contact: Martin Janes Executive Officer Terramin Australia Limited +61 8 8536 5950 info@terramin.com.au
Media Inquiries: Mike O'Reilly, Media & Government Consulting, O’Reilly Consulting, +61 414 882 505 / mike@oreillyconsulting.com
About us:
Terramin Australia Limited (the Company or Terramin) engages in the exploration, evaluation and development of base and precious metal projects. Terramin has a clear focus on growing a production pipeline of base and precious metal projects close to infrastructure and with low capital and operating costs. Consistent with this focus, the Group holds several highly prospective mineral deposits and exploration tenements across South Australia and Algeria.
Contact details:
Media Inquiries: Mike O'Reilly, Media & Government Consulting, O’Reilly Consulting, +61 414 882 505 / mike@oreillyconsulting.com
