Ormonde’s flagship mining project to be commissioned in Q3 2018

Work on the flagship project of Irish-listed mineral resource company Ormonde Mining has ramped up with 100 people now working on the site.

A construction update issued on Tuesday for the Barruecopardo tungsten mine in Salamanca, Spain, said that a significant amount of construction work has begun and the project is expected to be commissioned in the third quarter of 2018.

Some of the work that has commenced includes civil works for the crush and screen plant, the main water dam, and the mining of waste. Additionally, the first process plant equipment has been delivered to the site.

"The major earth moving phase relating to the construction of water storage and collection dams is now materially complete. Groundworks are well underway in the areas of the process plant and crush and screen circuit, with the delivery to site of related plant equipment items in progress, ahead of plant erection and installation scheduled for the early part of 2018," said Michael Donoghue, Ormonde's interim managing director.

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In a client note, Davy analyst Job Langbroek said the update was a "welcome" one, noting that the "delayed decision to start construction of the mine will result in the start-up being aligned with a period of stronger tungsten prices".