Completion of rail upgrade at its Cobre mine

RNS Number : 0200G

Strategic Minerals PLC

25 June 2012

 



For immediate release: 0700hrs 25 June 2012

Strategic Minerals Plc

("Strategic Minerals" or the "Company")

Completion of rail upgrade at its Cobre mine in New Mexico

Strategic Minerals Plc (AIM: SML; USOTC: SMCDY) today announces that the rehabilitation and upgrade of the rail link to its magnetite deposit at the Cobre Mine in New Mexico is now complete, which will enable the commencement of rail shipments of its magnetite iron ore to begin. It is anticipated that shipment of commercial quantities of ore will start over the next 90 days. At full capacity the rail facility will be able to handle over 50,000 dry metric tonnes per month.

Paul Harrison, CEO of Strategic Minerals, said:

"We are delighted that this milestone in the development of the Cobre mine has now been completed. It will allow us to accelerate the supply of our high quality magnetite ore to commercial customers and build up our revenues significantly. To date we have only been able to truck haul a limited amount of product from the mine site to US domestic customers."

About Strategic Minerals

Strategic Minerals PLC (AIM: SML; USOTC: SMCDY) is developing a portfolio of projects that provide near term production and revenues along with exploration assets that offer significant potential in the longer term. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia. The Company has commenced production at its first magnetite operation, the Cobre stockpile in New Mexico and intends to develop a number of other projects within the same segment.

www.strategicminerals.net

For further information:

Company
Strategic Minerals plc
Paul Harrison (CEO)	[phone]
Nominated Adviser/Joint Broker
Allenby Capital Limited
Jeremy Porter / James Reeve	[phone]
Joint Broker
Daniel Stewart & Company Plc
Bob Huxford / David Hart	[phone]
Financial Public Relations
GTH Communications Limited
Toby Hall / Suzanne Johnson Walsh	[phone]

 

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