Strategic Minerals Plc said Feb. 1 that the company's access to the Cobre magnetite mine stockpile in New Mexico was extended to Feb. 28, 2018.

The company's wholly-owned subsidiary Southern Minerals Group LLC has an existing contract with the owner of the Cobre mine, pursuant to which it has access to the Cobre stockpile.

In addition, Strategic Minerals and its unit is continuing to progress discussions with the mine owner to further extend the formal access period to the Cobre stockpile.