JOHANNESBURG (miningweekly.com) – Exploration and development company European Metals announced on Wednesday the appointment of Neil Meadows as COO.
Meadows has held various senior roles in the Australian resources industry, including that of COO of Karara Mining COO, MD of IMX Resources, and has worked with the Australian Premium Iron Ore joint venture on mine infrastructure.
Prior to that, he was the COO of Queensland Nickel, subsequent to the sale of the business by BHP, and was previously the GM of the Yubulu refinery.
European Metals MD Keith Coughlan commented that the company looked forward to Meadows’ guidance as it moved into the development of the Cinovec project, the deposit of which hosts globally significant hard rock lithium, with a total indicated mineral resource of 348-million tonnes grading 0.45% lithium and 0.04% tin.
“Neil's experience with projects of similar size and complexity will augment our existing team, both in Australia and the Czech Republic,” commented Coughlan.
Geomet – European Metals’ subsidiary – controls the mineral exploration licences awarded to the Cinovec project, in Czech Republic. The deposit also hosts an inferred mineral resource of 309-million tonnes grading 0.39% lithium and 0.04% tin – containing a combined seven-million tonnes lithium carbonate equivalent and 263 000 t tin.
An initial probable ore reserve determined 34.5-million tonnes grading 0.65% lithium and 0.09% tin, which will cover the first 20 years of mining at an output of 20 800 t/y of lithium carbonate.
European Metals has completed a preliminary feasibility study, conducted by specialist independent consultants, which indicated a post tax net present value of $540-million and an internal rate of return of 21%.
The study also confirmed that the deposit is amenable to bulk underground mining. Metallurgical test work has produced both battery grade lithium carbonate and high-grade tin concentrate at excellent recoveries.