Name of the Project
Corridor Sands project.
Location
Mozambique.
Project Owner/s
MRG Metals.
Project Description
A scoping study and preliminary economic assessment (PEA) have shown a project with a significant, 26-year mine life and excellent potential to expand.
The project incorporates the Corridor Central and Corridor South licences.
MRG plans to mine and process run-of-mine (RoM) ore by establishing a mining unit plant or plants, and a wet concentrator plant (WCP) initially capable of processing 20.1-million tonnes a year.
The WCP will produce two streams: a heavy mineral concentrate, which will be transported to a proposed mineral separation plant and a titano-magnetite final product, which will be also transported to the plant for off-site storage before being loaded on bulk carriers – sea freight. The mineral separation plant will have a capacity of 536 000 t/y.
The scoping study envisages an operation producing an estimated 262 000 t/y of titano-magnetite, 369 000 t/y ilmenite and 48 000 t/y nonmagnetic product.
Mining equipment proposed includes two identical mining unit plants.
The ore will be mined using dozers, with the ore pushed down from the mining face to a receival hopper, the RoM will then be slurried and wet screened with a vibrating screen (2 mm).
Thereafter, it will be pumped by an overland slurry pipe to the WCP for desliming and further processing.
Potential Job Creation
The project has an after-tax net present value, at an 8% discount rate, of $258-million and an internal rate of return (irr) of 21%, with a payback of 5.5 years.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $258-million and an irr of 21%, with a payback of 5.5 years.
Capital Expenditure
Capital expenditure is estimated at $239-million.
Planned Start/End Date
The project is expected to take 22 months to complete.
This includes project feasibility and approvals through to detailed design, construction and commissioning.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
IHC Mining (scoping study and PEA).
Contact Details for Project Information
MRG Metals, tel +61 3 5330 5800 or email info@mrgmetals.com.au.