NEWFOUNDLAND – The permits have been received, says VVC EXPLORATION CORP. of Toronto, and it plans to have the Beaver Brook underground antimony mine near Gander back in production within three months. VVC holds a 27.5% interest in the project; the remainder is held by BEAVERBROOK RESOURCES, also of Toronto.
The Beaver Brook mine, which operated briefly during 1998, is the only antimony producer in North America. A 400 t/d mill was built a decade ago, and all equipment and other facilities are operational. Mine rehabilitation and development have been completed, the production ramp and 313 meters of drifts are ready for mining to begin.
The Beaver Brook antimony deposit is also one of the world’s largest outside of China and South Africa. Once in full production, the mine could supply nearly up to 5% of world’s annual demand, according to VVC Exploration.
Over the past year, antimony has fluctuated between US$5,100 and $5,600 per tonne. Published prices are currently in the US $5,500 to $6,000 per tonne range and global demand is expected to grow at approximately 3.5% per year.
Visit www.VVCExploration.com for additional information about the Beaver Brook project.