TVI Pacific Inc. Introduces The Mindoro Joint Venture Projects Management Committee And Project Execution/Technology Development Team
TSX: TVI OTCQX: TVIPF
CALGARY, Feb. 13, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI or the Company) and its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. (TVIRD) are pleased to introduce the management committee and Project Execution/Technology Development team for their joint venture projects with Mindoro Resources Ltd. (Mindoro). TVI and Mindoro have signed four joint venture agreements, previously announced on October 1, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines on the Islands of Mindanao and Panay, respectively. The Mindoro joint venture projects are a significant opportunity for TVI, as detailed in a news release on February 7, 2013.
TVI is proud to announce that it has assembled a Project Execution/Technology Development team composed of highly experienced professionals, many of whom were most recently involved in development of an atmospheric tank leach process that is specifically suited to the extraction of nickel from tropical nickel laterite ore. The tank leaching technology is cost-effective, commercially viable and has low environment impact. TVI expects that this strong Project Execution/Technology Development team will realize the potential of the Mindoro joint venture projects more cost effectively and more efficiently, and in a shorter time period than would otherwise be possible. In addition, the Mindoro joint venture projects will be overseen by a management committee comprising members of the senior team of both Mindoro and TVIRD who have proven experience in the design and operation of projects in the Philippines, as well as a representative of the Minerals Production Sharing Agreement (MPSA) holder, Minimax.
The managing committee for the Agata and Pan de Azucar mining projects includes: Atty. Eugene T. Mateo, President, TVIRD, Luis Jovito A. Santos, Vice President for Finance, TVIRD, Yulo Perez, Vice President for Operations and Chief Operating Officer, TVIRD, Tony Climie, Chief Executive Officer, Mindoro and Ma. Pauline De Guzman-Lague (representing the MPSA holder, Minimax).Yulo Perez, Vice President for Operations & Chief Operating Officer, TVIRD Mr. Perez joined TVIRD in 2004 and has over 30 years of mining experience both in the Philippines and abroad and with various mining commodities, including copper, zinc, iron, gold and lateritic nickel. Most notably, Mr. Perez spent 13 years at a large lateritic nickel project operated by a major international mining company in Indonesia where his last position was Mine Manager. Mr. Perez is responsible for all aspects of TVIRD's mining projects and operations and oversees the operations and development of the Canatuan mine. Mr. Perez led the team that expanded the gold mine and processing plant to full commercial operations, later converting the plant into a copper and zinc ore mining and processing facility. Mr. Perez established operating management systems and processes at the Canatuan mine and is instrumental in managing the highly complex metallurgical nature of the Canatuan ore, ensuring it is within market specification. During Mr. Perez's tenure at TVIRD, the Canatuan mine has exceeded production expectations in both the gold and copper/zinc operations. To date, the copper/zinc mine has produced over 106 million pounds of copper equivalent contained in concentrates and is estimated to produce up to 170 million lbs Cu Eq, or about 83% more than that estimated in the original feasibility study. Doré production from the first gold plant produced over 135,000 ounces of gold equivalent during the first four years of gold operations, 10% more than the original gold operations feasibility study had projected . Under Mr. Perez' tenure, the operations have consistently been awarded top national awards in recognition of exemplary safety and environmental performance. Mr. Perez will oversee the activities of the Project Execution/Technology Development team for the Mindoro projects. The Project Execution/Technology Development team reports to the Projects Director and comprises the following people:
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts