RCS - Frontier Mining Ltd - Commencement of ESIA

Mon Jan 17, 2011 2:00am EST

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RNS Number : 5331Z
Frontier Mining Ltd
17 January 2011
 



 

 

Frontier Mining Ltd

("Frontier" or "the Company")

Commencement of Environmental Social Impact Assessment

 

KazCopper LLP, a subsidiary of Frontier, today announces the formation of a project group to perform the Environmental Social Impact Assessment (ESIA) on its Benkala project. The group is led by Wardell Armstrong International and was formed in late December 2010. It is expected to complete its report in February.

 

This is a key step to ensure that the Benkala project operates in compliance with Equator Principles, a voluntary set of guidelines for determining, assessing and managing social and environmental risk in project financing, which has become a globally-recognised benchmark adopted by most international banks.

 

Erlan Sagadiev, CEO of Frontier, commented: "It is our drive to ensure that Frontier's operations perform to international best practice in every respect. Compliance with best practice in the area of Environmental and Social Management is one of our key priorities."

 


For further details please contact:

 

Frontier Mining Ltd

George Cole

+44 (0) 20 7898 9019




Libertas Capital

Sandy Jamieson

+44 (0) 20 7569 9650




Walbrook PR

Walbrook IR

Bob Huxford

Paul Cornelius

+44 (0) 20 7933 8783

+44 (0) 20 7933 8794

 

 

 

Notes to Editors

 About Frontier Mining Ltd:

Frontier Mining Ltd. is a mineral exploration and development Company that is incorporated in the Cayman Islands for the purpose of exploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties.

Frontier currently owns two licenses in Kazakhstan.  They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI which holds the Benkala licence. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd.  Frontier has one producing gold mine, Naimanjal; one pre-feasibility stage gold project, Koskuduk; and the recently acquired 50% interest in the Benkala copper mine.

Frontier also has a potential copper porphyry deposit with associated gold and molybdenum, Baitimir; and several copper/gold prospects along a 25-km trend including both VMS and porphyry types.  Metallurgical tests on its Beschoku and Yubileiny copper projects confirm the oxide copper ore is amenable to extraction using low cost SX-EW technology.

A Competent Persons Report ("CPR") valuation report on the oxide section  of the Benkala project completed by Wardell Armstrong International ("WAI") in June 2010 has resulted in an NPV of $190 million  based on 0.5% diluted copper grade, 63% recovery and 185 000 ton of contained metal and 6,000 USD per tonne copper price. The oxide copper project represents development of approximately 10% of the total resource at Benkala and Frontier will use the production platform of the SX-EW project to finance further evaluation and technical studies required to advance development of the significant Benkala sulphide resource.

Frontier maintains an administrative office in Almaty, the former capital city of Kazakhstan and the main business centre in the southeast. The Company also maintains an office in Semipalatinsk, close to the Naimanjal operations, which is the base for all exploration and development personnel with additional administrative support for exploration. Semipalatinsk is 830 kilometres north of Almaty, connected by regular commercial airline services.

Issued Share Capital

Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.

Frontier has 1,860,913,973 ordinary shares issued.

 

For further information please visit: www.frontiermining.com.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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