Mining Lease Granted for the Isabel Nickel Project (San Jorge)
Brisbane, Sep 21, 2018 AEST (ABN Newswire) - Axiom Mining Limited (
ASX:AVQ) ('Axiom' or 'the Company') is pleased to announce that the Minister for Mines on behalf of the Solomon Islands Government has formally granted Axiom's subsidiary, Axiom KB Limited, the Mining Lease over the San Jorge nickel deposit, part of the world class Isabel Nickel Project.
- Axiom is now fully permitted to commence mining of the Isabel Nickel Project (San Jorge).
- The first shipment of ore is expected in Q1 2019.
The Mining Lease has been issued for a term of 25 years for the extraction, export and sale of nickel ore and other associated commodities.
The Isabel Nickel Project is widely considered one of the largest nickel laterite deposits in the Pacific. The nickel deposits at San Jorge sit very close to the surface in uninhabited land along a shore which encompasses a natural deep water harbour, all qualities that will enable the Company to bring a direct shipping of ore operation to the market in a timely and environmentally acceptable fashion.
Axiom CEO Mr Ryan Mount said, "We are now able to commence the construction of the Isabel Nickel Project and the subsequent sustainable mining of this world class asset. This is the first time that any company in the mining industry has been granted a Mining Lease for this project.
"We look forward to efficiently move through all phases of development to commercial production due in early 2019."
Solomon Islands Minister for Mines, Energy and Rural Electrification, the Honourable Bradley Tovosia said, "I extend my congratulations to Axiom on this achievement. I would also like to thank the landowners, chiefs and other stakeholders for their patience thus far. The Isabel Nickel Project is to be an important part of our economy, and it's exciting to see real production now moving forward for everyone's benefit."
Development and construction of the mine has begun. Upgrades of the exploration camp to a long-term mining camp have commenced, in addition to roads and loading facilities construction as well as community consultations; all currently underway in preparation for the first shipment of ore.
Financing for life of mine construction and development is in the advanced stages and due to be finalised over the coming weeks.
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http://abnnewswire.net/lnk/VEBZRF43
About Axiom Mining Limited
Axiom Mining Limited (ASX:AVQ) focuses on tapping into the resource potential within the ore-rich Pacific Rim. Through dedication to forging strong bonds and relationships with the local communities and governments where we operate, Axiom Mining has built a diversified portfolio of exploration tenements in the Asia-Pacific region. This includes a majority interest in part of the Isabel Nickel Project in the Solomon Islands and highly prospective gold, silver and copper tenements in Solomon Islands and North Queensland, Australia. Axiom Mining is listed on the ASX.
For more information on Axiom Mining, please visit www.axiom-mining.com
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