- Write by:
-
Thursday, September 24, 2020 - 1:11:23 PM
-
577 Visit
-
Print
Mining News Pro - A scoping study into the Steelpoortdrift vanadium project, in South Africa, has estimated that the project would require a capital investment of $161.5-million, ASX-listed Vanadium Resources said.
The study estimated that the project will produce between 18.7-million and 20.8-million pounds of vanadium pentoxide over a mine life of some 25 years, generating a pretax net present value of $359-million and an internal rate of return of 28.8%.
“The scoping study confirms competitive capital and operating costs for Steelpoortdrift that compare favourably with other global vanadium projects. Healthy and robust margins are generated at current vanadium prices, which makes a compelling case for continued development. Importantly, the project still displays a positive net present value at prices equivalent to historical lows,” said Vanadium Resources MD Bill Oliver.
The scoping study is based on a proposed 1.6-million-tonne-a-year standalone mining, beneficiation and processing operation, that will produce between 8 500 t/y and 9 400 t/y of high purity vanadium flake.
The project’s operating costs have been estimated at $3.07/lb, resulting in the project retaining strong margins, should vanadium prices move downward.
Vanadium Resources is now moving to complete a prefeasibility study on the project by the first quarter of 2021, to improve the level of accuracy in the cost estimates.
The feasibility study will be used to source the funding required to construct the Steelpoortdrift project. Once funding has been secured, the construction will take an estimated 24 months to complete, with the beneficiation plant operational within 9 to 12 months.
Short Link:
https://www.miningnews.ir/En/News/603669
Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the ...
Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the ...
Indonesia’s nickel reserves are sufficient for expanded processing operations, an investment ministry official said on ...
Mining News Pro - The DRI manager of Hormozgan Steel Company's said: According to the plans made in line with the ...
Cleveland-Cliffs Inc. chief executive officer Lourenco Goncalves said he’d consider another bid — with union support — ...
Mining News Pro - CEO of Hormozgan Steel Company said: By using hydrogen in the direct reduction process, Hormozgan ...
Mining News Pro - Chief executive of Mobarakeh Steel, stated: "This year, we achieved good things despite the ...
India launched the second part of its critical minerals auction worth an estimated 30 trillion rupees (about $362 ...
Mining News Pro - Zob Ahan Isfahan was honored to receive the 8th license to use the standard mark for the ammonium ...
No comments have been posted yet ...