Name of the Project
James Bay niobium project.

Location
The project is located 40 km south of Moose Factory Island, in northern Ontario, Canada.

Project Owner/s
Niobay Metals.

Project Description
A preliminary economic assessment (PEA) has evaluated three scenarios for the James Bay project – an openpit, a hybrid openpit and an underground operation.

The openpit operation will produce on average 5 470 t/y of niobium over a 30-year mine life. The openpit and underground operation will produce 6 213 t/y over a mine life of 23 years. The underground project will produce 6 283 t/y over a mine life of 23 years.

The average grade mined is 0.44% niobium for the openpit, 0.51% for the hybrid and 0.51% for the underground.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The openpit project option has an after-tax net present value (NPV), at an 8% discount rate, of $1.01-billion and an internal rate of return of 27.5%, with a payback of 3.2 years. The openpit and underground scenario has an NPV, at an 8% discount rate, of $856-million and an internal rate of return of 27%, with a payback of 3.1 years.

The underground scenario has an NPV, at an 8% discount rate, of $733-million and an internal rate of return of 21.6%, with a payback of 4.3 years.

Capital Expenditure
The openpit project will have preproduction capital expenditure (capex) of $510.5-million, the openpit and underground a capex of $482-million and the underground scenario a capex of $579-million.

Planned Start/End Date
Not stated.

Latest Developments
A series of hydrometallurgical process testing to produce battery-grade niobium at the James Bay project has begun.

The new niobium battery technology could change perceptions of electric vehicles (EVs). Niobium-based materials enable fast charging times (1 to 10 minutes), increased battery safety, long cycle life and improved EV performance.

The test programme could also be expanded to NioBay’s Crevier niobium and tantalum project, in Quebec.

“Niobium-based batteries will charge cleaner, safer and faster than ICE vehicles,” Chairperson Serge Savard has noted.

The results of the first series of tests, to be performed by SGS Canada, in Lakefield, are expected in four to six months.

Key Contracts, Suppliers and Consultants
G Mining Services Inc (PEA); and SGS Canada in Lakefield (hydrometallurgical process testing).

Contact Details for Project Information
Niobay Metals, tel +1 514866 6500.