JOHANNESBURG (miningweekly.com) – A recently completed scoping study on Aim-listed West African Minerals Corporation’s (WAFM’s) Cameroon-based Sanaga iron-ore project has identified two potential pathways to production of 2.4-million tonnes a year of premium grade iron-ore concentrate.
The study indicates robust economics and favourable capital and operating cost fundamentals for an openpit iron-ore mine and concentrator, using transportation to the Cameroon coast either by barging down the Sanaga river and transshipping at sea or using a slurry pipeline to a port near Yoyo.
The geometry of the mineralisation, which outcrops at surface, lends itself to low-cost, low-stripping ratio openpit mining,” chairperson Gerard Holden said in a statement.
Metallurgical testing on the primary magnetite ores indicates that the project can produce a high-quality iron-ore concentrate product that will command a premium price in the marketplace.
The Sanaga project's proximity to the ocean and access to existing road and power infrastructure allows for low capital expenditures and a short timeframe to develop export infrastructure.
“These advantages are borne out by the robust project fundamentals and attractive economics demonstrated by the study.”
Holden added that Sanaga represents an opportunity to develop a low capital intensity project with a short pathway to cash flow.
“Ongoing feasibility work and engagement with regulators and stakeholders is planned as the next steps to advance the project," he said.