Name of the Project
Mt Carbine tungsten mine expansion project.

Location
Far north Queensland, Australia.

Project Owner/s
EQ Resources.

Project Description
A bankable feasibility study (BFS) update, completed in May 2023, has proposed a ten-year operation. The update covers total concentrate production of about 38 570 t (50% tungsten content) over a ten-year period, an increase of 25% on the last BFS output.

Project implementation comprises two phases.

In Phase 1, processing plants have provided the data needed to design a plant that is optimised for the Mt Carbine mineralogy to maximise tungsten recovery. The Phase 2 plant upgrades are under way along with the new crushing plant.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $307.1-million and an pretax internal rate of return of 477%, with a payback of less than one year.

Capital Expenditure
A$18.5-million.

Planned Start/End Date
Mining is set to start in June 2023. The crushing plant is set for commissioning in early 2024.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Turner & Townsend JukesTodd (BFS).

Contact Details for Project Information
EQ Resources, tel +61 7 4094 3072 or email info@eqresources.com.au.