Medusa increases shaft capacity

Company News

Medusa Mining Limited (ASX:MML) has announced a re-commissioning of its Baguio shaft through its Phillipines based operating company Philsaga mining corporation.

The shaft has had its haulage capacity increased from 250 to 350 tonnes per day.

The shaft reached a target depth of 350 metres in early September, with work on its loading chute well underway.

Works on the sites other facilities including its workshop areas are also nearing completion.

Medusa Mining posted a net profit of $48.3 million for fiscal 2012.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?