PERTH (miningweekly.com) – Lithium developer Prospect Resources has been granted a mining lease for its Arcadia lithium mine, in Zimbabwe.
The mining lease covers an area of 1 031 ha and encompasses some 57 mining claims owned by Prospect.
Prospect told shareholders on Tuesday that the purpose of the mining lease was to amalgamate contiguous mining claims under one licence, in order to simplify tenement management. The mining lease is a perpetual licence, renewed annually.
A 2017 prefeasibility study estimated that the project could produce 75 000 t/y of spodumeme concentrate, ramping up to 123 000 t/y and 155 000 t/y petalite concentrates and 88 000 t/y tantalite concentrates over the life of the mine.
The project is estimated to have a 15-year mine life, and would cost an estimated $52.5-million to develop.