Thor extends mine life at Molyhil
PERTH (miningweekly.com) – ASX-listed junior Thor Mining has increased the life expectancy of its Molyhil tungsten mine, in the Northern Territory, from four to six years, following an update to the ore reserve.
The company on Tuesday reported that the Molyhil ore reserve was now estimated at three-million tonnes, grading 0.31% tungsten and 0.12% molybdenum, for some 9 200 t of tungsten and 3 600 t of molybdenum.
Earlier this year, the metals developer reported a 13% reduction in the expected operating costs at Molyhil to around A$78/t, following recent work on processing improvements and cost factors, and on extending the mine life from four to six years.
“This is a major step forward for the Molyhil project. The opencut ore reserve statement provides for significant additional production from Molyhil, while the process improvements demonstrate that production costs will be very low, particularly in the initial couple of years,” Thor executive chairperson Mick Billing said.
He noted that the next step would be to update the bankable feasibility study for the project, which would include a review of the capital and operating costs.
“This is anticipated to be completed before the end of the September quarter, enabling the financing of the project to be concluded. The directors believe that the enhanced project economics shown by this updated reserve statement will significantly boost the prospects of securing project financing,” Billing said.
The initial definitive feasibility study found that the Molyhil mine could produce some 400 000 t/y, delivering 2 200 t/y of scheelite product and 1 250 t/y of molybdenum concentrate.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation