Algerian-focused explorer Terramin Australia (ASX:TZN) has begun initial work at the Tala Hamza project in the North African country, at one of the largest undeveloped zinc and lead deposits globally. Tala Hamza contains a mineral resource of approximately 53 million tonnes at 5.3% zinc and 1.3% lead.
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The commencement of site preparation activities follows the resolution of land-access constraints that have impacted project progress recently.
The land, still subject to Tala Hamza mining operations, has been acquired by Algerian agencies for the project’s exclusive use. Executive chair, Bruce Sheng, said the cost of the acquisition is estimated to be US$30 million and signifies a significant financial commitment to the project by the Algerian government.
“The commencement of site preparation at Tala Hamza marks an important milestone. The resolution of land access constraints, which have hindered progress in recent quarters, now allows us to move forward with on-the-ground activities,” Mr Sheng said.
“With site access now secured, the focus shifts to execution as we advance the project towards development readiness.”
As Terramin moves the project towards development, it is ramping up geotechnical work supporting the final underground mine design.
Lying on the Mediterranean coast of Algeria, some 15 kilometres from the port city of Bejaia, the project supports a long-life operation of ~20 years, based on current studies.
Tala Hamza has access to established infrastructure, including port, rail, road and power.
Terramin holds a 49% interest in the project through its shareholding in Bejaia Zinc & Lead Spa (BZL) and retains management rights.
TZN is steady at 3c today.
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