Friday, February 12, 2010

Used Mining Equipment for Sale: Mindoro Resources Targets 50 to 70 Million Dry Metric Tonnes of Nickel and Iron Ore

Used Mining Equipment for Sale: Mindoro Resources targets 50 to 70 million dry metric tonnes (DMT) in a grade range of 0.9% to 1.2% nickel and 28% to 32% iron from its limonite and saprolite exploration in northern Surigao.

This is in addition to Mindoro's Agata North Project, which has an indicated and measured resource of 26.92 million DMT at 1.11% nickel and 0.06% cobalt, containing 657 million pounds of nickel and 24 million pounds of cobalt, and an additional 3.79 million DMT in the inferred category, containing 89 million pounds of nickel and 2 million pounds of cobalt.

The Surigao projects are in an important nickel producing district. The Agata North project contains major strategic nickel laterite resources with strong competitive advantages, including excellent infrastructure, close proximity to the ocean and markets, abundant limestone on site and potential for establishment of a world-class nickel and cobalt processing operation.

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