Windimurra recovery could take 9 months: Atlantic

Feb 18, 2014 | 04:41 PM | Daniel Fitzgerald

Tags  Atlantic, ferrovanadium, Midwest Vanadium, MVPL, Windimurra operations, fire, Droxford International, financing Standard and Poor's

NEW YORK — Atlantic Ltd. said it could take about nine months to repair the damage from a fire at its Windimurra vanadium operations in Western Australia and return to its previous production rate.

The Perth, Australia-based company and wholly owned subsidiary Midwest Vanadium Pty Ltd. (MVPL) are working to repair the damage caused by the Feb. 4 fire in the Windimurra beneficiation plant (amm.com, Feb. 11).

"While at this early stage all estimates are preliminary in nature, the company believes that it could take approximately nine months to rebuild the fire-damaged beneficiation plant and to ramp up production back to where it was prior to the fire," Atlantic said. "The company’s estimates of the combined material damage and business interruption components of the insurance claim are in the order of $100 million and are highly....





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