Canadian miner eyes extending Zambo project

Prompted by the current “price boom" in metals, a Canadian miner has set its eyes on extending the mine life of its Canatuan copper-zinc-gold project in the Zamboanga Peninsula. TVI Pacific Inc. is “confident" that its mine life will be extended from the current two years, said company chair Clifford James in a presentation during this week’s Mining Philippines 2011 Conference. The company has commissioned a study to determine if the mine’s operational life can be extended, James added. TVI Pacific, through its affiliate TVI Resource Phils. Inc., continues shipping out copper concentrates exclusively to Swiss firm MRI Trading AG, the company said. It maintains a milling output of 2,400 metric tons per day, TVI Pacific added. "In fact, we are expecting another shipment next week," James said. He added that TVI Pacific plans to advance development activity at its Balabag gold and silver project in Bayog, Zamboanga del Sur in the near-term, intending to augment the cash flows being generated at Canatuan. “We submitted a definitive feasibility study to Philippine government in June. Our environmental impact study is well underway," he said. The firm said it expects the approval process for the definitive study to be dealt with and done before the end of 2012. This will authorize it to commission the processing plant and begin commercial production at the Balabag site by 2013, TVI Pacific added. — PE/VS, GMA News