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Tuesday, 19th August 2008 (1119 views)

Orsu Metals Corporaton has announced its main focus to be bringing production up to commercial levels at its Varvarinskoye copper-gold mine.

The London-based precious metal mining and development exploration company said that it intends to up production at the Kazakhstan-based mine while continuing to develop copper-gold exploration there and in Kyrgyzstan.

It made the announcement as it reported its results for the year quarter ending on June 30.

Additional mineral resources were also reported at Varvarinskoye.

Dr Sergey V Kurzin, executive chairman of Orsu Metals Corporation, said 2008 will be "a critical turning point for the company".

In July, the copany announced the initial sale of copper-gold concentrate from the Varvarinskoye mine.

Shipping of the first two lots totalled 5,000 tonnes and were sent to Amsterdam.

The estimated value of the delivery was estimated at more than $9 million (£4.8 million).

A third lot of 2,500 tonnes was due to be completed in July.

 

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