Denarius Metals Commencing Activities to Restart Operations at the Aguablanca Project in Spain
Denarius Metals (OTCQX:DNRSF) has initiated the restart of operations at its Aguablanca Project in Spain, the country's only nickel mine recognized as a Strategic Project under the EU's Critical Raw Materials Act. The company has engaged METSO to lead the refurbishment of the 5,000 tonnes per day processing plant, with METSO providing financing for reconditioning and commissioning phases.
The company expects to resume underground mining operations by mid-2026, targeting processing of 800,000 tonnes annually to produce approximately 70,000 tonnes of Ni-Cu concentrates per year. Key activities include a pilot dewatering program, plant refurbishment, and electrical system upgrades. Denarius Metals, which owns 21% of the project operator Rio Narcea Recursos, is also planning a brownfield drilling program to extend the mine's life.
Denarius Metals (OTCQX:DNRSF) ha avviato la ripresa delle operazioni presso il suo progetto Aguablanca in Spagna, l'unica miniera di nichel del Paese riconosciuta come Progetto Strategico ai sensi del Regolamento UE sulle Materie Prime Critiche. La società ha incaricato METSO di guidare la ristrutturazione dell'impianto di lavorazione da 5.000 tonnellate al giorno, con METSO che fornirà il finanziamento per le fasi di recondizionamento e messa in servizio.
La società prevede di riprendere le attività di estrazione sotterranea entro la metà del 2026, con l'obiettivo di trattare 800.000 tonnellate all'anno per produrre circa 70.000 tonnellate di concentrati Ni-Cu all'anno. Le attività chiave includono un programma pilota di drenaggio, la ristrutturazione dell'impianto e l'aggiornamento degli impianti elettrici. Denarius Metals, che detiene il 21% dell'operatore del progetto Rio Narcea Recursos, sta inoltre pianificando un programma di perforazioni brownfield per estendere la vita della miniera.
Denarius Metals (OTCQX:DNRSF) ha iniciado la reanudación de las operaciones en su proyecto Aguablanca en España, la única mina de níquel del país reconocida como Proyecto Estratégico en virtud de la Ley de Materias Primas Críticas de la UE. La compañía ha contratado a METSO para liderar la rehabilitación de la planta de procesamiento de 5.000 toneladas por día, y METSO proporcionará financiación para las fases de reacondicionamiento y puesta en marcha.
La compañía espera reanudar la minería subterránea para mediados de 2026, con el objetivo de procesar 800.000 toneladas anuales y producir aproximadamente 70.000 toneladas de concentrados de Ni-Cu al año. Las actividades clave incluyen un programa piloto de desagüe, la rehabilitación de la planta y la actualización del sistema eléctrico. Denarius Metals, que posee el 21% del operador del proyecto Rio Narcea Recursos, también está planificando un programa de perforaciones brownfield para ampliar la vida útil de la mina.
Denarius Metals (OTCQX:DNRSF)가 스페인에 있는 Aguablanca 프로젝트에서 운영 재개를 시작했습니다. 이 광산은 EU의 중요 원자재법 하에서 전략적 프로젝트로 인정된 국가 내 유일한 니켈 광산입니다. 회사는 하루 5,000톤 처리 규모의 집선(처리) 플랜트 개보수를 주도하도록 METSO를 선정했으며, METSO가 재정으로 재정비 및 시운전 단계를 지원합니다.
회사는 2026년 중반까지 지하 채굴을 재개할 것으로 예상하며, 연간 80만 톤의 처리량을 목표로 연간 약 7만 톤의 Ni-Cu 농축물을 생산할 계획입니다. 주요 활동으로는 시범 배수 프로그램, 플랜트 개보수 및 전기 시스템 업그레이드가 포함됩니다. Denarius Metals는 프로젝트 운영사 Rio Narcea Recursos의 지분 21%를 보유하고 있으며, 광산 수명을 연장하기 위한 브라운필드 시추 프로그램도 계획하고 있습니다.
Denarius Metals (OTCQX:DNRSF) a lancé la reprise des opérations sur son projet Aguablanca en Espagne, la seule mine de nickel du pays reconnue comme projet stratégique au titre de la loi européenne sur les matières premières critiques. La société a mandaté METSO pour piloter la remise en état de l'usine de traitement de 5 000 tonnes par jour, METSO fournissant le financement pour les phases de reconditionnement et de mise en service.
La société prévoit de reprendre l'exploitation souterraine d'ici mi-2026, visant à traiter 800 000 tonnes par an afin de produire environ 70 000 tonnes de concentrés Ni-Cu par an. Les activités clés incluent un programme pilote de drainage, la réhabilitation de l'usine et des mises à niveau des systèmes électriques. Denarius Metals, qui détient 21 % de l'opérateur du projet Rio Narcea Recursos, prévoit également un programme de forage brownfield pour prolonger la durée de vie de la mine.
Denarius Metals (OTCQX:DNRSF) hat den Wiederanlauf der Aktivitäten an seinem Aguablanca-Projekt in Spanien eingeleitet, der einzigen Nickelmine des Landes, die nach dem EU-Gesetz über kritische Rohstoffe als strategisches Projekt anerkannt ist. Das Unternehmen hat METSO beauftragt, die Sanierung der Aufbereitungsanlage mit einer Kapazität von 5.000 Tonnen pro Tag zu leiten; METSO stellt die Finanzierung für die Rekonditionierungs- und Inbetriebnahmephasen bereit.
Das Unternehmen rechnet damit, die untertägige Förderung bis Mitte 2026 wieder aufzunehmen und strebt an, 800.000 Tonnen pro Jahr zu verarbeiten, um jährlich etwa 70.000 Tonnen Ni-Cu-Konzentrate zu produzieren. Zu den wichtigsten Maßnahmen gehören ein Pilot-Entwässerungsprogramm, die Überholung der Anlage und Upgrades der elektrischen Systeme. Denarius Metals, das 21 % am Projektbetreiber Rio Narcea Recursos hält, plant außerdem ein Brownfield-Bohrprogramm, um die Lebensdauer der Mine zu verlängern.
- METSO will provide financing for plant reconditioning and commissioning phases
- Project recognized as Strategic under EU's Critical Raw Materials Act
- Processing facility has been maintained in good condition, requiring only 8 months for recommissioning
- Planned production of 70,000 tonnes of Ni-Cu concentrates annually
- Additional brownfield drilling program planned to extend mine life
- Operations restart not expected until mid-2026
- Additional project financing still needed beyond METSO's contribution
- Complex dewatering process required before underground access
- Denarius only owns 21% of the project operating company
Toronto, Ontario--(Newsfile Corp. - August 11, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has commenced activities for the restart of operations at the Aguablanca Project in Spain.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "In our capacity as operator, we have initiated activities to restart mining operations at the Aguablanca Project, the only nickel mine in Spain that has also been recognized by the EU as a Strategic Project under the Critical Raw Materials Act. We have engaged METSO, a global pioneer in providing sustainable technologies, integrated solutions and services for the quarrying, mineral processing and metal refining industries, to lead the work required to refurbish Aguablanca's 5,000 tonnes per day processing plant. METSO will provide financing for the reconditioning services in Phase 2 and commissioning in Phase 3 of the refurbishment project. We have also completed the design of the dewatering system and have commenced pilot activities as part of the dewatering program that will provide access to the existing underground mine. If the work all goes as currently planned, we expect to have the Aguablanca underground mine back in production by mid-2026, processing material at a rate of over 800,000 tonnes per year and producing an average of approximately 70,000 tonnes per year of Ni-Cu concentrates. We are also in the process of designing a brownfield drilling program to commence in 2026 aimed at extending the life of the Aguablanca mine, focusing on expanding reserves in the known main orebodies, as well as expanding the resource footprint of the satellite mineralization of the deposit."
The Aguablanca Project is
Pilot dewatering activities commenced in July with the installation of a 10-nozzle forced evaporation system to accelerate the evaporation of water from the tailings dam during the hot summer months in Spain. Two more evaporators with much higher evaporation capacity will be installed in August to test their efficiency. In October, the Company expects to commence the dewatering of the existing open pit to gain access to the underground mine workings. The design and engineering of the dewatering system has been completed and will be carried out by a renowned Andalusian company specializing in providing dewatering solutions for the mining sector. The installation of the dewatering system will take place during the month of September. Dewatering activities to resume operation of the underground mine are expected to last no longer than six months.
Negotiations are underway with Endesa, one of the three largest electricity companies in Spain, for the installation and maintenance of underground electrical connections. Once dewatering is completed, the underground assessment of ventilation, ramp access and power in the mine will commence. Construction of a new escapeway system in the underground mine will commence after dewatering of the main ramp is completed.
In addition to the financing being provided by METSO, Denarius Metals is continuing its efforts to secure additional project financing directly through RNR to fund the capital expenditures associated with startup activities at the Aguablanca Project.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".
In Colombia, Denarius Metals commenced mining operations in the second quarter of 2025 at its
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including the timing to carry out and complete the activities to restart production at the Aguablanca Project, the ability of Denarius Metals to secure financing to fund future capital expenditures at the Aguablanca Project, future production, exploration programs and the potential to extend mine life at the Aguablanca Project. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261906
FAQ
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