https://www.miningweekly.com
PROJECT|Projects|Resources
PROJECT|Projects|Resources
project|projects|resources

Corridor Sands proves up for MRG

3rd November 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – A scoping study and preliminary economic assessment (PEA) into the Corridor Sands project, in Mozambique, estimates that the project will require a capital investment of $239-million.

ASX-listed MRG Metals told shareholders that the project could produce 262 000 t/y of titano-magnetite, 369 000 t/y of ilmenite and 48 000 t/y of non-mag over a mine life of 26 years.

“The result of this study gives the board great confidence of an exceptional, robust mine development opportunity at the Corridor projects, said MRG Metals chairperson Andrew van der Zwan.

“A net present value of A$413-million is indicated, which, given the current market cap of MRG is highly exciting for MRG shareholders, and the board is confident significant enhancement can be made in the next phase of project development,” he added.

The scoping study also estimated an internal rate of return of 21%, with a project pay-back period of five-and-a-half years. Operating costs of ore processed have been estimated at $3.10/t, while revenue per tonne of ore processed has been estimated at $6.40/t.

Van Der Zwan told shareholders that as MRG progressed to the prefeasibility stage, the company had already identified a number of opportunities to improve the project’s net present value by reducing capital expenditure through different on-site processing options, bulk sampling higher value mineral assemblage from the Nhacute/Poiombo starter pit, conducting further metallurgical testwork and incorporating newly identified zones of resources.

Edited by Creamer Media Reporter

Comments

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 
Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (07/06/2024)
7th June 2024 By: Martin Creamer

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:0.217 0.254s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: