A producing underground iron-nickel laterite mine until 2013; currently on care and maintenance.
Fully permitted; covered by 20-year mining license issued in 2008 that can be renewed for like period.
With historic resource of 22.4 million tons grading 0.99% Ni, 50% Fe and 0.065% Co. Remaining historic resource at 21.3 million tons.
Previous mining operations undertaken by state-run mining enterprise (1985–1992) which delivered the laterite ore to Elbasan Ferro-Nickel plant some 58 kms away.
Recent mining operations done by Gerold Sh.pk. (2008-2013), the current mining license holder.
All underground infrastructure and machineries are in place and in order.
The mine is 5 kms to the main highway and 16 kms to rail loadout.
Recent underground sampling encountered high-grade samples – up to 0.54% Co and 1.92% Ni.
EVX will conduct due diligence that will include study to start mine operations in 6-12 months.