Friday, 28th March 2008 (1553 views)

A six-year mining contract for the Masbate Gold Project in the Philippines has been agreed between CGA Mining, Phil Gold Processing and Refining and Filminera Resources.

The contract was signed with Leighton Contractors, which will provide a full mining fleet and equipment in addition to technical and mining services for the project.

CGA Mining said Leighton is expected to start activities onsite this month, with initial work including the construction of main embankment Stage 1 to a height of 20 metres. Known reserves are reported to reach a final height of 51 metres, but the 20 metre level is scheduled for completion by August of this year.

Following this section of the project, Leighton will concentrate on "pioneering activities" for the development of the site's open pit mining operations.

"We are pleased to welcome Leighton as the mining and technical services provider for the Masbate Gold Project," the statement from CGM Mining said.

"The alliance agreement is designed to maintain unlimited flexibility with all aspects of mining, total transparency of costs and provide the safest and lowest mining cost per tonne."

Last November saw Leighton announce it had secured a contract relating to site preparation at the Burrup Liquid Natural Gas Park site in Western Australia.

 

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