AMG Advanced Metallurgical Group N.V. Announces tantalum mineral resources update at volte grande mine
Amsterdam, 22 April 2013 — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) announces that AMG Mineração, a subsidiary of AMG Mining, has updated its mineral resource estimates for its Volte Grande mine in Brazil in accordance with CIM Definition Standard and Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) Guidelines.
The Technical Report on Mineral Resources states that AMG Mineração’s Volte Grande mine has 14.7 million tons of measured and indicated resources. Those resources include tantalum, niobium, tin and lithium. This report is based upon drillings and research done during the 2011-2012 core drilling campaign and certain economic assumptions that reflect today’s current market prices and extraction costs.
Compared to the previous Mineral Resource Statement, which was completed in 2010:
* the measured and indicated mineral resource for the Volte Grande project increased by 8.9 million tons, to 14.7 million tons, an increase of approximately 150%,
* the inferred mineral resource increased by 4.0 million to 4.7 million tons, an increase of approximately 550%, and;
* the combined measured, indicated and inferred mineral resource increased by 12.9 million tons to 19.3 million tons, an increase of approximately 200%.
AMG estimates that the current life of the mineral resource is approximately 20 years, based upon current tantalum concentrate production levels, extraction and processing costs, and current economic conditions. The detailed table of the mineral resources is below:
+------------------------------------------------------------------------------+ | Table 1.5_1 | | AMG - Volta Grande Project | | Table of Mineral Resources (01/01/2013) - Applied cut-off : 69 ppm Ta | | Block Model 25m x 25m x 5m (Sub-blocks: 6.25m x 6.25m x 1.25m) | +------------+-------------+--------+-------+--------+-------+--------+--------+ |Resource |Mineralized |Volume |Tons |Ta (ppm)|Nb |Sn (ppm)|Li (ppm)| | |body |(Mm³) |(Mt) | |(ppm) | | | +------------+-------------+--------+-------+--------+-------+--------+--------+ | |Corpo A | 0.91 | 2.50 |275.26 |55.59 |294.92 |3,321.48| |Measured +-------------+--------+-------+--------+-------+--------+--------+ | |Corpo F | 0.03 | 0.07 |529.11 |49.27 |336.57 |2,172.25| +------------+-------------+--------+-------+--------+-------+--------+--------+ | Sub Total | 0.94 | 2.57 |282.41 |55.42 |296.09 |3,289.12| +--------------------------+--------+-------+--------+-------+--------+--------+ | | +------------+-------------+--------+-------+--------+-------+--------+--------+ | |Corpo A | 3.48 | 9.40 |340.37 |56.57 |262.15 |3,298.32| | +-------------+--------+-------+--------+-------+--------+--------+ |Indicated |Corpo C | 1.03 | 2.68 |267.02 |64.18 |576.47 |3,810.72| | +-------------+--------+-------+--------+-------+--------+--------+ | |Corpo F | 0.02 | 0.06 |688.12 |55.48 |348.12 |2,917.27| +------------+-------------+--------+-------+--------+-------+--------+--------+ | Sub Total | 4.54 |12.15 |325.90 |58.25 |332.03 |3,409.66| +--------------------------+--------+-------+--------+-------+--------+--------+ | | +------------+-------------+--------+-------+--------+-------+--------+--------+ | |Corpo A | 4.39 |11.90 |326.69 |56.36 |269.04 |3,303.19| | +-------------+--------+-------+--------+-------+--------+--------+ |Measured + |Corpo C | 1.03 | 2.68 |267.02 |64.18 |576.47 |3,810.72| |Indicated +-------------+--------+-------+--------+-------+--------+--------+ | |Corpo F | 0.05 | 0.13 |601.46 |52.10 |341.83 |2,511.26| +------------+-------------+--------+-------+--------+-------+--------+--------+ | Sub Total | 5.47 |14.72 |318.29 |57.75 |325.75 |3,388.58| +--------------------------+--------+-------+--------+-------+--------+--------+ | | +------------+-------------+--------+-------+--------+-------+--------+--------+ | |Corpo A | 0.51 | 1.36 |415.06 |67.31 |236.67 |4,124.58| |Inferred +-------------+--------+-------+--------+-------+--------+--------+ | |Corpo C | 1.26 | 3.29 |264.56 |64.13 |841.48 |3,808.72| +------------+-------------+--------+-------+--------+-------+--------+--------+ | Sub Total | 1.77 | 4.65 |308.51 |65.06 |664.86 |3,900.96| +--------------------------+--------+-------+--------+-------+--------+--------+
The mineral resource estimates have been prepared in accordance with the classification standards adopted by the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects. The mineral resource estimates have been prepared by, or under the supervision of, Fábio Valério Câmara Xavier, a Member of the Australian Institute of Geosciencesand a Qualified Person under NI 43-101.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO(2) reduction. AMG produces highly engineered specialty metal products and advanced vacuum furnace systems for the Energy, Aerospace, Infrastructure and Specialty Metals and Chemicals end markets.
AMG Processing develops and produces specialty metals, alloys and high performance materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and Specialty Metal and Chemicals applications. Other key products include specialty alloys for titanium and superalloys, coating materials and vanadium chemicals.
AMG Engineering designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy (including solar and nuclear) industries. Furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis.
AMG Mining produces critical materials utilizing its secure raw material sources in Africa, Asia, Europe and South America. AMG Mining produces critical materials such as high purity natural graphite, tantalum, antimony and silicon metal. These materials are of significant importance to the global economy and are available in limited supply. End markets for these materials include electronics, energy efficiency, green energy and infrastructure.
With over 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Mexico, Brazil, Turkey, Poland, India and Sri Lanka and has sales and customer service offices inBelgium, Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V.
+1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com
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Source: AMG Advanced Metallurgical Group N.V. via Thomson Reuters ONE [HUG#1694928]