Breakwater Resources (BWR-T) has acquired the Bougrine zinc-lead mine in Tunisia, together with all other assets of Socit Minire de Bourgrine.
The Toronto-based company will pay US$19.3 million for the operation, which includes a 1,150-tonne-per-day concentrator.
Total reserves stand at 4 million tonnes grading 10.8% zinc and 2.2% lead, including 2.8 million tonnes in the proven category grading 12.2% zinc and 2.4% lead.
Annual production is expected to average 400,000 tonnes over a 7-year mine life.
To ensure annual production of 42,000 tonnes of zinc and 7,000 tonnes of lead in concentrate, Breakwater will endeavor to upgrade the underground potential at an estimated cost of US$7 million. Startup is scheduled for early 1998.
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