Groundhog North anthracite project, Canada
Name and Location
Groundhog North anthracite project, British Columbia, Canada.
Client
Atrum Coal.
Project Description
A supplementary prefeasibility study (SPFS) on the Groundhog North project has delivered improved economics on a 5.4-million-tonne-a-year underground operation.
Groundhog North covers less than 5% of Atrum’s broader Groundhog anthracite project, the world’s largest undeveloped anthracite deposit, which hosts a Joint Ore Reserves Committee (Jorc) resource of 1.57-billion tonnes.
The SPFS has increased the Groundhog North’s Jorc-compliant coal resource from 305-million tonnes to 609-million tonnes and mineable run-of-mine from 75-million tonnes to 176-million tonnes.
The project’s mine life has increased by 138%, from 16 years to 38 years, and will have a saleable production of 3.2-million tonnes a year.
Net Present Value/Internal Rate of Return
The project’s net present value has increased by 62% to A$1.68-billion, and its internal rate of return from 39% to 42%.
Value
All-in capital expenditure is estimated at $596-million.
Capital required to deliver a small-scale mining operation has been reduced 25% from $77-million to $58-million.
Duration
First coal sales are expected in the second half of 2015.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Atrum Coal, tel +61 8 9388 3131 or email info@atrumcoal.com.
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