ASX-Listed metals explorer, Symbol Mining Limited, has announced that its maiden shipment of 250 tonnes of Direct Shipping Ore (DSO) of zinc concentrate from the Macy Mine in Nigeria is locked and loaded for transport.
The 250-tonne shipment consists of 10 containers that will be transported by truck to Lagos Port for export to China and is expected to depart in early December 2018.
The first shipment represents a great achievement for the Symbol and Imperial Joint Venture team, who proved that they could deliver the Macy Mine project in a short start-up period, just five months after the commencement of mining and one month after the commissioning of the processing plant.
Symbol Mining CEO, Tim Wither, said that although a modest maiden shipment, ramp up to a steady state should come with relative ease as the mine deepens into more consistent high-grade material and the processing and logistic channels stabilise.
“The team should be very proud of the effort to date and demonstrates our capability to build a successful, viable mining operation in emerging Nigeria. We now look forward to restarting our exploration program,” he commented.
Over the coming months, the Macy operations will continue to ramp up processing operations to the expected monthly production of 4,500 tonnes of high-grade DSO zinc and separate lead saleable products.
The company is currently finalising a Free on Board (FOB) sales contract with take-off partner, Noble Resources International Pte, with an 85 per cent prepayment to occur within five days of loading onto the vessel, with the company receiving first revenue in December 2018.
Final payment is anticipated during a three-month quotational period and independent analysis.
More information on the Macy project can be found here.