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Ardmore phosphate rock project, Australia – update

Image of Ardmore mine

Photo by Centrex Metals

9th February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Ardmore phosphate rock project.

Location
North-west Queensland, Australia.

Project Owner/s
Centrex Metals.

Project Description
Ardmore is one of the few remaining undeveloped high-grade phosphate rock deposits in the world. 

An updated definitive feasibility study (DFS) has confirmed the profitability and robustness of the project. The original DFS was completed in October 2018 and in February 2019 the company released the results of an optimised DFS, which has been used as the baseline for the August 2021 update.

The updated DFS envisages a simple opencut mine with a ten-year mine life producing 800 000 t/y.

Underlying mine designs and resulting ore reserves remained unchanged from the 10.1-million tonnes at 30.2% phosphorous pentoxide reported in the DFS. The potential exists to increase the mine’s life through the conversion of resources to reserves and near mine exploration.

Plant design, site layout, construction material quantities and installation hour-estimate remain unchanged from the original DFS.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an ungeared pretax net present value, at a 7% discount rate, of A$207-million and a pretax internal rate of return of 52%, with a payback of less than two years.

Capital Expenditure
Preproduction capital is estimated at A$78.47-million. This compares with the capital investment of A$69-million in the 2019 optimised DFS to the same parameters.

Planned Start/End Date
Not stated.

Latest Developments
Centrex is investigating road transport alternatives for phosphates concentrate from its Ardmore mine, after a portion of the Mount Isa-Townsville rail network was damaged in heavy rainfall and flooding associated with the ex-tropical cyclone Kirrily.

The company says it will take about two weeks for the rail network, operated by Aurizon Holdings, to become operational again.

Centex says all activities at the Ardmore mine, including mining, processing and drying, continue as normal, with only minor interruptions, owing to heavy rainfall

The company has 11 500 t of product ready to load at the port for an overseas customer. 

Key Contracts, Suppliers and Consultants
GR Engineering Services (capital cost update).

Contact Details for Project Information
Centrex Metals, tel +61 8 8213 3100.

Edited by Creamer Media Reporter

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