| Date 2/22/2012 |
| Open: 0.14 |
Change 0.00 |
| Prev. close 0.14 |
Volume 1449650 |
16/2/2012
Malaga To Build New Hydroelectric Plant in Peru
Additional Power Will Continue To Significantly Reduce
Tungsten Production Costs At Pasto Bueno Mine
Construction Permit Expected by End of 2012
... more
| 9/1/2012
Malaga Announces Appointment of Fernando Pajuelo Rincon as General Manager at Its Pasto Bueno Tungsten Mine
MONTREAL, QUEBEC--(Marketwire - Jan. 9, 2012) - Malaga Inc. ("MLG")(TSX:MLG)(OTCQX:MLGAF) announces the appointment of Fernando Pajuelo as General Manager in charge of mining operations at the Company's Pasto Bueno tungsten mine in Peru. Mr. Pajuelo ... more
| 2/12/2011
MALAGA ANNOUNCES APPOINTMENT OF PIERRE MONET AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Montreal, December 2, 2011 – The Board of Directors of Malaga Inc. (gMLGh) today announced the appointment of Pierre Monet as President and chief executive officer, replacing Jean Martineau who will remain Chairman of the Company and Presiden... more
 See all press releases |
|
|
Since 1941, the Pasto Bueno sector produced about 6 million tons of mineral grading approximately 0.75% WO3. The production peaked in 1971-1972, at a rate of 1000 tpd. From 1982, production decreased due to low tungsten prices. The Company completely ceased its operations in 2002. |
| |
|
In November 2005, Malaga purchased Pasto Bueno. Historically, the previous owner had identified 31 veins, mining ore solely from 5 of these structures. Malaga, having completed surface exploration, has been able to identify to date, 78 veins, 25 of which are major structures. Essentially this means that the Pasto Bueno property still has extensive unknown potential. |
| |
|
Since the time of purchase, the Company has invested CAN$14.2 million for the rehabilitation of the mine and the 250 tpd capacity plant. In September 2006, it began pre-production at a level of 50 tpd. In June 2007, the mine reached the mill's then maximum capacity in June 2007, and has been producing at a steady level of 250 tpd. Malaga has since increased its production capacity to 450 tpd in 2009 and to 500 tpd in Q4 2010. Malaga also dramatically increased the WO3 recovery rate. |
| |
|
Tungsten offtake agreement with Global Tungsten Products (GTP; formerly Osram Sylvania)
• Began in February 2009;
• The term of the agreement is for five years; and
• The tungsten produced from the Pasto Bueno mine is sold at a premium price due to its superior quality (almost no contaminants), in line with the APT price listed on the London Metal Bulletin.
• APT Price Chart |
|
