Ivanhoe’s Kipushi zinc mine in the DRC officially reopens
The restart marked exactly a century since the mine first went into production.
A preliminary economic assessment (PEA) of the Big Daddy chromite deposit in northern Ontario is recommending that the project advance to the feasibility stage.
The PEA was commissioned by Montreal-based KWG Resources, which owns a 28% interest and a 1% net smelter royalty (NSR) in the deposit, located in the remote James Bay lowlands of northern Ontario. The company also has NSRs on the adjacent Black Thor and Black Label chromite deposits, and has the option to increase its interest in Big Daddy to 30%.
“The PEA results indicate the Big Daddy deposit, if developed, could provide compelling returns to the owners at present prices,” said KWG President Frank Smeenk. “The estimated undiscounted cash flow per presently outstanding KWG share over the life of the project, from KWG’s interest alone, is $2.97 per share.”
The project as described in the PEA includes the development of a railway and power line to the site, an open pit mine and associated crushing plant and infrastructure. It is estimated that the pre-production construction would be completed over a 3-year time frame and the open pit would produce a total of 25.35 million tonnes of indicated resources and 13.54 million tonnes of inferred resources of lump chromite mineralization, over a 16-year mine life.
To learn more click on the full press release
Image by KWG Resources Inc.
