Copi North heavy mineral sands project, Australia
Name and Location
Copi North heavy mineral sands (HMS) project, New South Wales, Australia.
Client
Broken Hill Minerals, a subsidiary of Broken Hill Prospecting Limited (BPL), and joint venture partner Relentless Resources Limited (RRL) are the owners of the project with 60% and 40% respectively. RRL is earning up to 50% by funding scoping and feasibility studies.
Project Description
A scoping study completed indicates that the Copi North project has shown its potential to generate strong cash returns even at current low metal prices.
The study envisages a shallow, free-digging operation.
Based on a throughput rate of 1.4-million tonnes a year over an initial five-year mine life, the Copi North deposit could produce about 100 000 t/y of heavy mineral concentrate.
Net Present Value/Internal Rate of Return
The project has a payback of 30 months.
Value
The project is expected to require a capital investment of A$21.8-million.
Duration
Not stated.
Latest Developments
BPL has started logistical planning for a step-out shallow air-core drilling programme to explore the western extension of the deposit.
The programme is expected to be completed by mid-March.
A prefeasibility study is likely to follow from the completion of the drilling to increase the project’s mine life to between eight and ten years.
Key Contracts and Suppliers
Mineral Technologies (scoping study).
On Budget and on Time?
Not stated.
Contact Details for Project Information
BPL, tel +61 2 9252 5300, fax +61 2 9252 8400 or email info@bhpl.biz.
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