Magellan lodges $5 million lead shipment bond

Magellan Metals announced on Friday it had lodged a $5 million performance bond with the Western Australian Government.

Magellan Metals announced on Friday it had lodged a $5 million performance bond with the Western Australian Government, paving the way for sealed lead shipping to begin out of Fremantle Port.

The company was required by the State’s Environment Minister to provide the bond prior to commencement.

Magellan received the final sign-off for its sealed shipment process from the Minister on 13 August.

The company said it remained on schedule to re-commence exports within the previously announced late-September, early-October timeframe.

The sealed shipment process involves sealing lead carbonate concentrate in two tonne bags, which are vacuumed and being placed inside bolt-locked steel containers.

The loaded containers are washed at the Wiluna minesite and carried by truck and rail to Fremantle.

According to Magellan, the sealed shipments set a new global safety standard for handling and transport of lead carbonate.

The process was successfully tested at Port Esperance during the first half of 2009 when it was used to remove an 8000 tonne dry metric stockpile.

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