JOHANNESBURG (miningweekly.com) – A recent preliminary assessment by ASX-listed Tawana Resources of its 100%-owned Mofe Creek iron-ore project has identified the potential for establishment of a low-cost, high-recovery iron-ore operation at the Liberia-based tenement.
Prepared internally by the company, the assessment focused on the proposed mining and processing method, transport and infrastructure, as well as preceding metallurgical test results.
The assessment indicated the possibility of a ten-year mine life, with average cash operating costs of between $30/t and $35/t and an open-cut contract mining operation, complemented by a crushing and simple gravity processing plant.
The product would be transported 20 km to the coast by haul road or conveyor, after which it would be transferred by barge to deep water for loading on to Mini Capesize or Panamax vessels for export.
This assessment followed the recent release of the project’s metallurgical results, which indicated that the soft itabirite mineralisation offered “excellent” weight recoveries of between 44% and 57% and concentrated into a high quality, 60%-plus iron product from simple processing.
Further, a global exploration target size potential of between 360-million tons and 670-million tons of friable mineralisation had been estimated for the project area.
Tawana MD Len Kolff said on Tuesday that the company was “very pleased” with the outcome of the preliminary desktop assessment, and would aspire for low operating and capital cost estimates reflected by the project’s “favourable” characteristics.
“In addition, as ArcelorMittal is reported to have recently have approved a $1.5-billion expansion of its existing operations in Liberia, Mofe Creek represents an exciting new iron-ore discovery in Liberia and is certainly the place to be for West African iron-ore producers,” he said in a statement.
The Mofe Creek iron-ore project is located in one of Liberia’s historic iron-ore mining district, some 10 km along strike from the abandoned Bomi Hills mine, near the Port of Monrovia.