https://www.miningweekly.com

Peak targets Ngualla investment decision by 2016/17

Peak targets Ngualla investment decision by 2016/17

Photo by Bloombeg

3rd September 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed rare earths developer Peak Resources is hoping to pull the trigger on its $367-million Ngualla rare earths project, in Tanzania, by 2016/17, with MD Darren Townsend saying on Thursday that the company is working on reducing capital expenditure on the project.

“We are looking at a number of opportunities to further increase the economics of the project,” Townsend told delegates at the Africa Downunder conference, in Perth.

Peak was in the midst of completing a bankable feasibility study (BFS) of the Ngualla project and, in July, launched a drilling programme to support the detailed engineering requirements of the BFS.

“While the prefeasibility study (PFS) delivered robust economics, we are focused on optimising returns even further and are investigating a range of beneficiation, processing and site options,” Townsend said.

A 2014 PFS estimated that the Ngualla project could deliver some 10 000 t/y of separated high-purity rare-earth oxides over a mine life of 58 years. The project was estimated to have an operating cost of $11.74/kg and would deliver a net present value of $1.3-billion and an internal rate of return of 39%.

Townsend said on Thursday that, along with the completion of the BFS, financing and offtake discussions would be progressed over the next 12 months or so, but Peak had set a target of 2018 for plant commissioning.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 7 hours ago
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.067 0.111s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: