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Cone Crusher

TORONTO and BROSSARD, Quebec, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF / OTC:BFARF), one of the largest, oldest and most cost-effective publicly traded bitcoin mining operations in the world, has broken the landmark 1 EH/s barrier with the successful installation of 1,560 of the new miners over the last five days since our announcement. The miners are online and hashing as expected

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bitfarms announces operating hash rate of 1.18 eh/s and

“As one of the founders of Bitfarms, I have been excited for the day that I could celebrate that our Company surpassed this important milestone. However, having achieved 1 EH/s, it has only increased my desire and excitement to grow Bitfarms to 3.0 EH/s by the end of 2021, and achieve sustained growth in 2022”, said Emiliano Grodzki, Chief Executive Officer of Bitfarms

In March 2019, Bitfarms signed a term loan agreement with Dominion Capital which allowed Bitfarms to draw down on four tranches of US$5.0 million. The US$20.0 million advanced to the Company in 2019 allowed Bitfarms to grow its operations into five locations and install a substantial amount of hash rate and physical and electrical infrastructure. During the past eighteen months, the installed infrastructure allowed Bitfarms to acquire and lease over 12,000 high efficiency Bitcoin miners. The Company’s growth and improvements over the past eighteen months would not have been possible without Dominion Capital. We are pleased that we were able to justify their confidence in Bitfarms and repay and retire their remaining loans six and nine months prior to maturity. We thank Dominion Capital for their support and confidence

Mikhail Gurevich, Managing Partner of Dominion Capital LLC comments, “Most people don't realize that it takes time to build a sustainable business that runs well, but that is exactly what Bitfarms has done, and we've been privileged to witness it firsthand over the last several years. Judging from the quality of their management, engineering, infrastructure, and operational efficiency, we believe Bitfarms is by far the best publicly traded Bitcoin miner right now - and the results speak for themselves. It has been an honor and a pleasure working with everyone there, and we continue to remain a shareholder because we believe in their vision. Now that they have this phenomenal infrastructure in place and as Bitcoin continues to gain wider acceptance in our society, we are excited to see where this team will take Bitfarms next.”

bitfarms announces operating hash rate of 1.18 eh/s and

Founded in 2017 Bitfarms is one of the one of the largest, oldest, and most cost-effective public bitcoin mining operations in the world. Bitfarms run vertically integrated mining operations with onsite technical repair, data analytics and engineers to deliver high performance and uptime of operations

Having demonstrated rapid growth and stellar operations, Bitfarms became the first Bitcoin mining company to complete its long form prospectus with the Ontario Securities Commission and started trading on the TSX-V in July 2019. Bitfarms is currently listed as a Rising Star by the TSX-V

platinum group metals ltd. announces positive independent

Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - September 24, 2019) -  Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") announces positive results from an Independent Definitive Feasibility Study ("DFS") on the Waterberg Project (the "Project") completed by international and South African engineering firms Stantec Consulting International LLC ("Stantec") and DRA Projects SA (Pty) Ltd. ("DRA") along with a large team of specialists. The DFS was managed by Waterberg JV Resources (Pty) Ltd. ("Waterberg JV") representing the owners of Platinum Group, Impala Platinum Holdings Ltd. ("Implats"), Japan Oil, Gas and Metals National Corporation ("JOGMEC"), Hanwa Co. Ltd. ("Hanwa") and Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo"). All of the partners contributed actively to the Project through the technical committee and the Board of Waterberg JV

A significant increase in Mineral Reserves from the Project's 2016 Pre-Feasibility Study ("PFS") for a large-scale, shallow, decline-accessible, mechanised, palladium, platinum, gold and rhodium ("4E") mine. Use of backfill in the DFS design lowers risk and increases mined ore extraction rates

Annual Steady State production rate of 420,000 4E ounces, which is a lower production rate than in the PFS. This result is by careful design in order to reduce capital costs and simplify construction and ramp-up

Updated Measured and Indicated Mineral Resources of 242 million tonnes at 3.38g/t 4E for 26.4 million 4E ounces (using 2.5 g/t 4E cut-off) and the deposit remains open on strike to the north and below an arbitrary depth cut-off of 1,250-meters

platinum group metals ltd. announces positive independent

R. Michael Jones, CEO and co-founder of Platinum Group said, "The DFS provides a clear outline of the world-class nature of the Waterberg Palladium deposit and concludes that it can be one of the largest fully mechanised, low cost platinum group metals mines in the world. A large global team of approximately 100 independent professionals and specialists as well as excellent participation from our partner Implats, have contributed to an optimized mining plan that reduced capital from the earlier plan and significantly increased the Mineral Reserves for a 45 year life, 420,000 4E ounce per year steady state mine plan"

The Waterberg Project will create approximately 1,100 new highly skilled jobs and a significant investment in local training and business opportunities is part of the benefits to stakeholders including local communities, shareholders, provincial and national governments. The Project includes an upgrade to the local water infrastructure under a current co-operation agreement with the municipality and a connection to the Eskom power grid

platinum group metals ltd.: exhibit 99.2 - filed by

The Company announced positive results from an Independent Definitive Feasibility Study (“DFS”) on the Waterberg Project (the “Project”) completed by international and South African engineering firms Stantec Consulting International LLC (“Stantec”) and DRA Projects SA (Pty) Ltd. (“DRA”) along with a large team of specialists. The DFS was managed by Waterberg JV Resources (Pty) Ltd. (“Waterberg JV”) representing the owners of Platinum Group, Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”), Hanwa Co. Ltd. (“Hanwa”) and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”). All of the partners contributed actively to the Project through the technical committee and the Board of Waterberg JV

The Waterberg Project will create approximately 1,100 new highly skilled jobs and a significant investment in local training and business opportunities is part of the benefits to stakeholders including local communities, shareholders, provincial and national governments. The Project includes an upgrade to the local water infrastructure under a current co-operation agreement with the municipality and a connection to the Eskom power grid

The Mineral Resources for the Waterberg Project have been updated and have increased slightly based on recent in-fill drilling. The Mineral Resources have been estimated based on 441 diamond drill holes and 583 deflections and has been stated at a 2.5 g/t 4E cut-off (the base-case). In the DFS, a 2.5 g/t 4E cutoff grade has been applied to the Mineral Resource model as an input into the mine design. At the 2.5 g/t 4E cut-off grade, the total Measured and Indicated Mineral Resources are estimated at 242 million tonnes grading 3.38 g/t 4E for an estimated 26.4 million ounces 4E. Total Mineral Reserves at a 2.5 g/t 4E grade cut-off are estimated at 187 million tonnes for 19.5 million ounces 4E. Waterberg is effectively estimated in four zones and three complexes, each with twin declines from surface. The South Complex has T Zone and F Zone Mineral Resources and Reserves. The Central Complex currently has just F Zone Mineral Resources and Reserves, is the largest part of early production and also has potential for expansion on the T Zone Mineral Resources. The North Complex just has F Zone Mineral Resources and Reserves and is planned for the later part of the mine life from 2044 out to 2066. Future drilling from surface and underground is expected to result in the delineation of additional Mineral Reserves, thereby extending the Project mine life. The Mineral Resources are estimated in the two zones with the T Zone approximately 350 meters above the F Zone with both zones striking northeast and dipping at approximately 38 degrees to the west. An arbitrary depth cut-off of 1,250-meters has been applied in all zones.

The Mineral Reserves are a subset of the Mineral Resource envelope at a 2.5 g/t 4E cut-off and they include only Measured and Indicated Mineral Resources with dilution and stope shapes considered. A minimum mining thickness of 2.4 meters and sublevel planning of 20 meters to 40 meters was considered in the mine plan for Mineral Reserves.

platinum group metals ltd.: exhibit 99.2 - filed by

The Mineral Resources for the Waterberg Project are categorised and reported in terms of the National Instrument for the Standards of Disclosure for Mineral Projects within Canada, 2011 (“NI 43-101”) and are tabulated below.

The Mineral Resources are classified in accordance with the National Instrument for the Standards of Disclosure for Mineral projects within Canada, 2011 (“NI 43-101”). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability and Inferred Mineral Resources have a high degree of uncertainty