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Buchans Minerals, Minco provide Plymouth deposit update

Keywords: Tags  Buchans Minerals, Mercatur Geological Services, manganese carbonate, manganese, Minco, Canadian Manganese, Daniel Fitzgerald

PITTSBURGH — The Plymouth manganese carbonate deposit in Canada has an inferred resource of 43.7 million tonnes grading 9.98-percent manganese, Buchans Minerals Corp. and joint-venture partner Minco Plc said.

The estimate allows Buchans Minerals to undertake a preliminary economic assessment to assess the project’s potential for development as an open-pit mine and processing facility, the Halifax, Nova Scotia-based company said.

The property is expected to yield manganese carbonate ores used in the production of high-grade electrolytic manganese metal, which is commonly used to produce stainless steel, specialty steels and high-purity alloys.

"Given the grades and open-pit amenability of the Plymouth deposit and the relatively low power costs in New Brunswick, it is the objective of Buchans Minerals to develop an electrolytic manganese metal plant which is competitive with those in China," the company said.

The Plymouth deposit is located near the town of Woodstock, New Brunswick. The property is fully owned by Buchans Minerals through wholly owned subsidiary Canadian Manganese Co. Inc., and is subject to an option agreement that grants Minco an option to earn up to a 50-percent interest in Canadian Manganese.

Buchans and Minco entered into a binding agreement April 30 to combine their businesses, subject to approval of Buchans’ shareholders.

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