Name of the Project
Crater Lake TG-Zone scandium/rare-earth element (REE) project.
Location
North-east of Schefferville, in Quebec, Canada.
Project Owner/s
Imperial Mining Group.
Project Description
A preliminary economic assessment (PEA) has confirmed that the TG-Zone deposit has robust economics, with the potential to be a long-term provider of critical scandium and magnet rare earths to world markets.
Total mined metal production over a minimum 25-year mining life, based on the resource base, is expected to be 110 t scandium oxide, 57 298 t of scandium/aluminium master alloy and 23 578 t
of REE hydroxide concentrate.
The PEA has applied a conventional truck-and-shovel openpit mining operation model to the TG North lobe deposit at a production rate of 2 350 t/d during a six-month-a-year operation period. The two-stage hydrometallurgical extraction method will be used to recover the scandium and the REE from the Crater Lake deposit.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at 10% discount rate, of $2.97-billion and an internal rate of return of 42.9%, with a payback of 2.5 years.
Capital Expenditure
Total initial capital expenditure is estimated $870.9-million.
Planned Start/End Date
Not stated.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
WSP Canada (PEA).
Contact Details for Project Information
Imperial Mining Group, email info@imperialmgp.com.