RMLA Rusina Mining

 

TIDMRMLA 
 
RNS Number : 0504V 
Rusina Mining NL 
03 July 2009 
 

FOR IMMEDIATE RELEASE  3 July 2009 
Rusina Mining NL 
("Rusina" or the "Company") 
NICKEL UPDATE 
The Company announces that is has released an update on its nickel operations 
today. A copy of the document is available from the Company's website - 
www.rusina.com.au 
Direct Shipping Ore Operations (DSO) 
DMCI Mining ('DMCI') has notified Rusina Mining ('Rusina' or 'the Company') that 
it will suspend its current operations at the Company's Acoje tenement on the 
island of Luzon in the Philippines due to low nickel prices. As noted in the 
last 3 Quarterly Reports, DSO shipments virtually stopped in June 2008. Since 
that time DMCI has sold a few sporadic shipments principally clearing stockpiles 
at port. 
The DSO market, under current nickel and iron prices has moved towards the 
supply of ore for the production of low nickel 'pig-iron' where prices paid for 
ore are virtually at cost with little to no profit. The continuation of mining 
the required high iron low nickel limonite ore is not economic to DMCI. 
The DSO profit share alliance entered into with DMCI does not involve any 
capital outlay for Rusina. DMCI is responsible for all funding, mining, grade 
control, rehabilitation, road and port developments as well as the marketing and 
sales obligations of 5 million tonnes of ore over 5 years. 
DMCI has performed exceedingly well in its role of DSO operator particularly 
considering the volatile DSO market. The Company thanks DMCI for its 
contributions. 
Heap Leach Trial Facility 
The prevailing nickel prices have had no impact upon the Company's Nickel Heap 
Leach project plans which we are implementing in partnership with European 
Nickel plc ('EN'). Unlike the short term, opportune nature of the DSO market, 
the long term production of nickel through Heap Leach operations has a low 
operating cost that remains very profitable at current and forecast nickel 
prices. 
The trial heap leach pad and pilot plant, part of the Definitive Feasibility 
Study (DFS) currently underway, is now substantially complete. Over the coming 
months 3,000 tonnes of crushed and agglomerated nickel laterite ore will be 
stacked on the pad and acid leaching will commence. 
The trial heap will be constructed at the same height as the full commercial 
operation and is designed to prove the heap percolation and leach rates on a 
full scale basis. In addition the trial facility will showcase the clean, safe 
and environmentally friendly nature of the process to the government and local 
stakeholders. It also provides an opportunity to demonstrate our rain control 
methodology over the heap and ponds. 
The re-costing of the Pre-Feasibility Study ('PFS') by China Tianchen 
Engineering Corporation, the construction engineers involved with EN's Caldag, 
Turkey nickel heap leach project, is due to be received this week and is 
expected to show a meaningful cost reduction on the capital cost published in 
the PFS in November 2008. In addition by undertaking some further drilling the 
DFS will seek to move additional JORC Inferred resources to Indicated status 
which will lengthen the proposed mine life and increase the NPV from its present 
US$375 million. 
A full scale laboratory has now been in operation at Acoje for many months and 
is continuing to make significant inroads into further enhancing the economics 
of the project. Downstream processing is a key factor to the successful economic 
processing of nickel laterites and the Acoje Test Centre has been working on a 
number of new technologies designed to lower the current forecast cash cost of 
US$1.60/lb (before refining charges) and increase the end payable product. 
 
 
Contacts:Mark Hanlon       Rusina Mining          Tel: +61 8 9226 1111 
                Roland CornishBeaumont Cornish    Tel: +44 (0) 207 628 3396 
 
 
 
 
The information in this report that relates to Mineral Resources is based on 
information compiled by Mr Scott Robson, who is a Member of The Australasian 
Institute of Mining and Metallurgy. Mr Robson is employed by Fil-Asian Strategic 
Resources and Properties Corporation, a wholly-owned subsidiary of Rusina Mining 
NL, and has sufficient experience which is relevant to the style of 
mineralisation and type of deposit under consideration and to the activity which 
he is undertaking to qualify as a Competent Person as defined in the 2004 
Edition of the "Australasian Code for Reporting of Exploration results, Mineral 
Resources and Ore Reserves". Mr Robson consents to the inclusion in this report 
of the matters based on his information in the form and context in which it 
appears. 
 
 
For further information please visit our website - www.rusina.com.au 
 
 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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