Canada's Titan Mining has begun hoisting ore up a shaft at its newly reopened Empire State mine in upstate New York and expects to execute a zinc concentrate offtake agreement soon, a company official said Monday.
"We're on budget and on schedule," Jacqueline Allison, vice president of investor relations for the Vancouver-based company, said.
She indicated an offtake deal is imminent, but would not elaborate.
Titan said the rehabilitation of the underground mine is well advanced, with more than 26,000 feet completed since the start of the project in November 2017.
COO Keith Boyle said in a statement Monday that when Empire is fully ramped up in early 2019 to a throughput level of 1,800 st/day, "the mine is forecast to produce an average of 100 million pounds of zinc in concentrate per year, but our goal is to increase this to 225 million pounds or more annually by expanding throughput."
