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Conversely, it is believed that Chinese and South African EMM producers continue to face steady upward pressure on mining, electricity, labour and environmental costs and, in the case of China, from mineralization of diminishing grade.

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Woodstock’s low operating costs are attributed in large part to the amenability of the Woodstock Plymouth deposit to low cost open pit mining methods with low stripping ratios and relatively low industrial electricity rates in New Brunswick that are sustainable for the duration of the project.

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The PEA was completed by Tetra Tech (“Tetra Tech”) and Thibault & Associates Inc.

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The PEA’s base case indicates a long project life of 40 years with operating costs anticipated to be the lowest in the world averaging US$0.64/lb of electrolytic manganese metal (“EMM”) produced over the first 20 years and US$0.68/lb EMM over the life of project.Woodstock Mn - New Brunswick - Minco PLC

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