Symbol Mining secures logistics agreement for Macy project
ASX-listed exploration and mining company Symbol Mining has finalised agreements with specialist logistics group GMT Nigeria in preparation for the first shipment of high-grade zinc and lead product from the Macy project, located in the Benue Trough in Nigeria.
GMT Nigeria is a highly experience contractor established in 1999 that has become the largest logistics service provider in Sub Sahara Africa. The company offers integrated services to accommodate logistical challenges operating from Lagos, and has a fleet of over 750 trucks under management and control.
The logistics agreement between Symbol Mining and GMT Nigeria is an important contract for the Macy project, having a major impact on project economics.
The logistics contract is for a door-to-door logistics solution, and the agreement includes:
- Appointment of GMT as shipping agent and logistics contractor
- Rolling three-month fixed costs for shipping lines and inland logistics
- Pit-to-port solution with integrated tracking of each container
- Shipment schedule requiring up to 180 x 20 ft containers month
- Haulage over 1 200 km with dedicated truck fleet
- First shipment of ore is expected to take place in late Q3, 2018.
Operational update at Macy project
Pre-stripping activities are progressing on schedule with initial transitional ore being recovered and stockpiled. Primary and secondary crushing circuits are onsite with the wet/dry screen arriving next week for commissioning of the processing circuit.
The Imperial Joint Venture access bridge foundations have been completed, and Bailey bridge sections are expected to arrive onsite over the coming weeks, with construction still on track to be completed by September.
The bridge will give Symbol Mining year-round access to the Macy project and provides the local community with year-round access, and safe passage, to medical facilities.