Elizabeth Creek numbers prove up for Coda
PERTH (miningweekly.com) – A scoping study into the Elizabeth Creek copper/cobalt project, in South Australia, could produce some 25 000 t/y of copper and 1 000 t/y of cobalt over a mine life of 14 years.
ASX-listed Coda Minerals on Thursday told shareholders that the development of Elizabeth Creek would be undertaken in two phases, with the first phase seeing copper/cobalt concentrate production driving early cash flow, followed by the second phase which will involve the construction of a hydrometallurgical plant to produce a higher value copper cathode, battery-grade cobalt sulphate, zinc carbonate and silver dore.
Phase 1 is expected to require a capital spend of A$277-million, with Phase 2 requiring a further A$320-million capital investment in the third year of operation, which will be supported by cashflows from the Phase 1 operation, Coda said.
The scoping study has estimated that the project would have a pre-tax net present value of A$570-million and an internal rate of return of 26.5%, with pre-tax revenues estimated at A$5.73-billion over the life of the mine.
“This study marks an important milestone in the life of the Elizabeth Creek project, providing detailed financial analysis for the first time to complement the technical and exploration achievements over the past year,” said Coda Minerals CEO Chris Stevens.
“This study underpins a robust go-forward case for the Elizabeth Creek project with excellent project economics. We also have multiple opportunities for expansion and improvement underway. Recent geophysical work has defined several highly prospective expansion targets for the sediment-hosted copper/cobalt mineralisation at Emmie Bluff which have the potential to increase project size and scope beyond the already excellent 14-year mine life.”
Stevens said that in addition to exploration being undertaken at Elizabeth Creek, Coda is also focused on optimisation of the integrated mine plans, ore sorting opportunities and a study into the potential use of mechanical cutting techniques.
“This work is well advanced and has the potential to result in material financial uplift and reduction in geotechnical risk and ventilation demand for Emmie Bluff,” he added.
Coda is now finalising its forward work plan for the next stage of studies at Elizabeth Creek, including a prefeasibility study.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation