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Resource Estimate Drops for Argyle Mine
Mar 5, 2017 7:12 AM
By Rapaport News
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RAPAPORT... Rio Tinto has lowered its estimate of the mineral resources
available at its Argyle diamond mine in Australia, as the company reconsiders its
plans to extend the project.
Estimated mineral resources fell 66 percent to 15 million
tonnes in 2016, compared with the previous year, the miner said in a statement last
week. Mineral resources are the quantity of material in a mine that has
reasonable prospects for being extracted economically.
Previous estimates had taken into account the possibility of
prolonging the mine’s planned lifespan, the company explained.
“As mine-life extension options are under ongoing review,
the reported mineral resources have now been restricted to those parts of the
mineralization which can be potentially developed, mined and processed during
the existing mine life defined by the current underground operation,” the
company said.
The reduction in resources does not affect the current plan
for the mine, which would see production continue until 2021, the company
added.
Image: Copyright © 2017 Rio Tinto
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Tags:
Argyle, Argyle mine, Australia, mineral resources, mines, mining, Rapaport News, Rio Tinto
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