Foxtrot rare-earth element project, Canada
Name and Location
Foxtrot rare-earth element (REE) project, Labrador, Canada.
Client
Search Minerals.
Project Description
An updated preliminary economic assessment (PEA) on the Foxtrot REE project has reconfirmed that the project has robust economics and the potential to become a profitable producer of REEs.
The PEA envisages a mine with a 1 000 t/d processing rate and a mine life of 14 years.
Total life-of-mine (LoM) production is estimated at 44 129 t of total rare-earth oxides (TREOS) or 3 300 t/y at peak production. LoM production includes 7.09-million kilograms of neodymium oxide and 836 000 kg of dysprosium.
Foxtrot has updated the mineral resource comprising 7.4-million tonnes in the indicated category at a grade of 1.09% TREO and inferred resources of two-million tonnes grading 1.17% TREO.
Net Present Value/Internal Rate of Return
The updated PEA has estimated a pretax net present value (NPV), at a 10% discount rate, of $93-million and a pretax internal rate of return (IRR) of 22.2%, with a payback of 3.5 years.
The estimated after-tax NPV, at a 10% discount rate, is $48-million, with an
after-tax IRR of 16.7%, and a payback of 4.4 years.
Value
The PEA estimates total capital costs at $231.7-million.
Duration
Not stated.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Search Minerals, tel +1 604 998 3432 or fax +1 604 608 5717.
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