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Symbol Mining starts mining ops at Imperial's Macy zinc project

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Symbol Mining starts mining ops at Imperial's Macy zinc project

Symbol Mining Ltd. said July 6 that it began mining operations at the Macy zinc project, part of the Imperial joint venture in Nigeria, after receiving final government approval for the mining lease of the project.

A scoping study for the Macy deposit within Symbol's 60%-owned Imperial property estimated that the operation would generate A$20.3 million in free cash flow over a mine life of 12 months, using a base case development scenario.

The Macy deposit hosts indicated and inferred resources totaling 132,700 tonnes at 18.3% zinc and 2.1% lead, but only the indicated resource was used in the study's production forecast.