Bellzone Mining claims Guinea project on schedule

Bellzone Mining, the company aiming to build Guinea's first commercial iron ore mine, says the project remains on schedule.

At the mine itself key staff are in place and explosives permits and contracts have been organised.

The road Bellzone is building to get its product to market remains on schedule for completion by February 2012.

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The company also says Konta port will be in a fit state for loading and export by the end of March.

Bellzone says it has identified two million tonnes of high grade material at the site, but with possible additional resources of several million tonnes more, subject to verification.

Nik Zuks, the Chief Executive of Bellzone said: "We continue to meet our construction and commissioning schedule and subject to approvals will see the project in a position to start production in Q1 2012."

Today's update has seen the stock gain 2.5% although over the last 12 months the share price is down 49%.

BS