DJ Ivernia Completes Lead Removal At Esperance, Focus On Restart

Thu. July 16, 2009; Posted: 03:52 AM

LONDON, Jul 16, 2009 (Dow Jones Commodities News via Comtex) -- IVWFF | Quote | Chart | News | PowerRating -- Canada-based lead miner Ivernia Inc. (IVW.AU) said Thursday it now can focus on restarting mining operations at its Magellan lead mine in Western Australia after completing an environmental clean up at its nearby port.

Ivernia's 100,000 metric ton Magellan mine in Western Australia was forced to go on care and maintenance more than two years ago after the government revoked its export license because of cases of lead poisoning at the port.

Thursday the Department of Environment and Conservation in Western Australia said the company met all requirements of the Esperance Lead Removal Plan.

"The sign off on the s73A notice is a significant milestone in terms of the final resolution of overall Esperance issues," said John Yeates, vice president of corporate and social responsibility at Ivernia.

"The entire Ivernia team is now focused on positioning for a restart of mining operations at the Magellan Mine."

In April, Ivernia said it didn't expect to restart mining operations at Magellan before 2010.

To prevent future problems, Ivernia now uses a sealed shipment process. The company packages lead carbonate concentrate in sealed double-lined bags, cleans the exterior of the bags and packs and locks the bags in steel shipping containers.

The company said in May that it completed the shipment of all 8,000 tons of the remaining lead concentrate stockpile, that had been marooned at Australia's Port of Esperance since 2007, using the new system.

-By Devon Maylie, Dow Jones Newswires; +44 (0)20 7842 9483; devon.maylie@dowjones.com

(END) Dow Jones Newswires

07-16-09 0352ET

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