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Alara Resources (ASX:AUQ) shares rise on new camp at Wash-hi Majaza

ASX News, Mining
ASX:AUQ      MCAP $52.42M
27 January 2022 08:58 (AEST)

Field work at the Wash-hi Majaza project in Oman. Source: Alara Resources/Twitter

Alara Resources (AUQ) has completed construction of the accomodation village for its Wash-hi Majaza copper-gold project in Oman.

As the company continues its focus on constructing copper-gold mining and processing facilities at the project, the prefabricated accommodation camp has been designed to house 325 personnel from the construction, mining and plant operation crews.

Once accommodation requirements for the construction crew diminishes, Alara said the camp will be progressively retrofitted to house permanent mine and processing facility staff.

The new village has a minimum life of 12 years which is above the estimated project life of just over ten years, providing flexibility if the company decides to extend the duration of the project.

With regard to Sharia law, the camp includes suitable facilities for prayer, as well as for the appropriate preparation and quality of food.

To mark the official inauguration of the village, Alara orchestrated a ceremony including ribbon and cake cutting as well as a luncheon with senior shareholder representatives, engineering and admin team members, delegates from Bank Sohar International, Progesys and Al Hadeetha Resources staff.

With the ongoing challenges of COVID-19, Alara Managing Director Atmavireshwar Sthapak said the inauguration was a fantastic achievement by all involved.

“Their concerted efforts mean the Project’s copper-gold mining-processing facility should be completed before the end of calendar 2022,” Mr Sthapak said.

“We look forward to providing investors with additional procurement and construction updates over coming months, as we get ever closer to that exciting day when Alara moves from being an explorer/developer to a metals producer.”

Shares were trading 39.3 per cent higher at 3.9 cents at 1:04 pm AEDT.

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