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 body||Volume (Mm³)||Tons (Mt)||Ta (ppm)||Nb (ppm)||Sn (ppm)||Li (ppm)|
|Measured + Indicated||Corpo A||4.39||11.90||326.69||56.36||269.04||3,303.19|
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 Geosciences and a Qualified Person under NI 43-101.
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO2 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 in Belgium, Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Vice President of Corporate Development and Corporate Communications
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.