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Alexco hits commercial production at Yukon silver project

احدث اجدد واروع واجمل واشيك Alexco hits commercial production at Yukon silver project

ORONTO (miningweekly.com) – Vancouver-based Alexco Resource Corp has declared commercial production at its Bellekeno silver/lead/zinc mine in the Yukon territory, the firm reported on Thursday.

Alexco started commissioning at the conventional flotation plant and underground mine in September and completed the work at the end of December.

Both the mine and mill have operated at the initial design throughput of 250 t/d for 30 days, which also satisfies the requirements of the initial completion test spelled out in a silver-purchase agreement the company has with Silver Wheaton.

The mine produced about 15 700 t of ore during the commissioning and ramp-up period between October and December, and the mill processed over 9 000 t of ore and started shipping commercial specification concentrate for smelting and refining in early December.

"Reaching commercial production at Bellekeno is the final milestone in Alexco's transition to a fully accredited Canadian mining company, and a critical achievement in the growth and evolution of our business," CEO Clynton Nauman said in a statement.

Alexco has said it expects Bellekeno to produce up to 2,8-million ounces a year of silver.

Vancouver-based Silver Wheaton agreed in 2008 to buy 25% of the payable silver produced at the mine, in exchange for $50-million upfront, and the lesser of $3,90/oz or the prevailing market price, on delivery of 25% of the silver produced at the Keno Hill project.

Shares in Alexco declined 4,8% on Thursday, to C$7,09 apiece by 15:59 in Toronto. The stock has risen 83% in the last year. It touched a high of C$8,99 in early December.

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