JOHANNESBURG (miningweekly.com) - Following the successful completion of a prefeasibility study (PFS) on the T3 copper project, in Botswana, joint venture (JV) partners Metal Tiger and MOD Resources have agreed to proceed with a feasibility study this quarter.
The PFS assumed two models, including openpit mining and conventional flotation ore processing with a plant throughput of 2.5-million tonnes a year and ore supply from measured and indicated category resources.
This would return a net present value (NPV) of $281-million (pre-tax), using a long term copper price of $3/lb, with payback over 2.7 years from the start of production.
The PFS also researched an expansion case model, in terms of which the plant will be upgraded to enable it to treat four-million tonnes a year from the start of year four. This will deliver an NPV of $402-million.
"The fact that the JV has [gone] from discovery to a very robust PFS in little more than twenty-two months is tantamount to the level of work and commitment all the stakeholders have put into the project," said Metal Tiger CEO Michael McNeilly.