Zim tungsten project’s preproduction capital estimate revised to $4.1m
JOHANNESBURG (miningweekly.com) – An implementation study report on the low-capital openpit start-up strategy for multicommodity natural resource company Premier African Minerals’ RHA Tungsten project, in Zimbabwe, has determined a lower estimated preproduction capital cost of $4.15-million.
In October last year, the Aim-listed company provided details of the start-up strategy, which had set out an initial estimated preproduction capital requirement of $4.8-million.
Premier, which owns a 49% stake in, and is the operator of, the RHA Tungsten project, on Wednesday highlighted that the implementation study report had maintained the June 2015 targeted date for first production, while operating costs had been reduced to $89.1 a metric tonne unit (mtu) of tungsten trioxide (WO3).
“The report confirms our strategy for RHA and supports our conclusions that the openpit is projected to generate sufficient surplus cash to allow for the start of repayment of loans to be made to RHA by Premier, and to finance the build of the underground operations,” said Premier CEO George Roach.
Further, he noted that Premier was still in negotiating potential additional funding for the project.
Further, while the company had been offered offtake agreements for WO3 over the life of the mine, it would investigate other alternatives given the fact the mine had the potential to be “a significant, stable and long-term producer”.
The RHA project was expected to process 8 000 t/m of run-of-mine ore and produce, on average, 92 t/m of concentrate at 63% WO3 over a 22-month period.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
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
