ASX-listed Magnum Mining & Exploration is considering a fast start-up option for its Buena Vista iron project, in Nevada, US, which will deliver earlier cash flows based on accessing higher grade portions of the existing resource.
As part of the short-term expedited development plan, the company has developed a five-year mine schedule, delivering 2.5 million tonnes a year of ore to the beneficiation plant, supporting an average of 800 000 t/y of concentrate production.
The expedited development option will have average ore grades of 29.1% iron over the five years.
The scoping study for the project is based on a production rate of 1.6-million tonnes a year of magnetite concentrate over a mine life of 25 years.