GME prices NiWest project at A$460m
JOHANNESBURG (miningweekly.com) – A scoping study for junior GME Resources’ NiWest nickel laterite project, in Western Australia, has estimated a capital cost of A$460-million.
The project would incorporate a 1.5-million-tonne-a-year combined heap-leach plant producing about 14 000 t/y of nickel cathode and 540 t/y of cobalt at an operating cost of $5.68/lb.
With a mineral resource of about 75.73-million tonnes, grading 1.01% copper and 0.08% cobalt, the project has an estimated mine life of 20 years.
The scoping study estimated that the project would have a net present value of A$934-million and an internal rate of return of 37%.
GME MD Jamie Sullivan said on Wednesday that the unique characteristics of the NiWest ore and the high quality of the technical work completed to date, provided confidence in the development potential of the project.
“The relatively simple heap leach processing route identified in the scoping study has been considered and trialled at several other nickel laterite projects, including the adjacent Murrin Murrin nickel refinery, which has recently commercialised a heap leach programme on similar ore types.”
Sullivan added that the comparatively low capital cost and capital intensity achieved by heap leaching ranked NiWest as potentially one of the world’s most cost-competitive nickel laterite development projects.
The scoping study has suggested that GME move to a structured metallurgical test programme, which would allow the project to continue to a feasibility study. Costs to undertake the metallurgical programme and to complete the feasibility study were expected to be around A$15-million, and would take around two years to complete.
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