https://www.miningweekly.com
Design|PROJECT|Solutions
Design|PROJECT|Solutions
design|project|solutions

Citronen mine life extended

19th July 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – A bankable feasibility study (BFS) into the Citronen zinc/lead project, in Greenland, has increased the expected mine life by 50%, to 20 years compared with the 2017 feasibility study while also improving the mine design.

ASX-listed Ironbark Zinc on Monday reported that the BFS estimated that the project would require a capital investment of $654-million, an increase from the $514-million estimated in 2017.

The 3.3-million-tonne-a-year operation is expected to deliver 2.5-million tonnes of zinc metal over a mine life of 20 years, or at an average of 130 000 t/y, with life-of-mine costs estimated at $0.76/lb.

The BFS estimated a post tax net present value of $363-million and an internal rate of return of 15.2%.

“The 2021 BFS update is the culmination of an intensive reassessment of the development plan for the Citronen project. It is a pragmatic and grounded view of the asset that highlights the potential for Citronen to be developed into a significant producer of zinc metal over multiple pricing levels,” said Ironbark MD Michael Jardine.

“This study worked through several challenges that required creative thinking, disciplined decision-making in terms of trade-offs and a willingness to reconsider some long-standing assumptions about the project. For those reasons, I am much more confident today than I was 12 months ago about the depth of understanding we have, and the solutions that are proposed.”

Jardine noted that given the project’s strategic location and potential position within the zinc value chain, funding solutions were actively progressed in parallel with the BFS workstream, resulting in a preliminary dialogue with US EXIM Bank to provide substantial debt support linked to US content.

These discussions are now expected to advance with the completion of the BFS.

Edited by Creamer Media Reporter

Comments

Latest News

Redpath logo on machinery
Redpath acquires RUC
26th March 2024 By: Darren Parker

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.109 0.147s - 114pq - 2rq
Subscribe Now