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Construction|Crushing|Iron Ore|Mining|PROJECT|System|Trucks|Waste|Waste|Operations
Construction|Crushing|Iron Ore|Mining|PROJECT|System|Trucks|Waste|Waste|Operations
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Kamistiatusset iron-ore project, Canada

Image of iron-ore on a rail cart

Photo by ©Bloomberg

22nd March 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Kamistiatusset iron-ore project.

Location
Western Labrador, Canada.

Project Owner/s
Champion Iron.

Project Description
Champion Iron has evaluated the construction of mining and processing facilities to produce direct reduction- (DR-) grade pellet feed iron-ore from the mining properties of the Kami mine.

The study details an operation with a 25-year life-of-mine (LoM), with average DR quality iron-ore concentrate production of about 8.6-million tonnes a year at more than 67.5% iron.

The project is planned as a conventional openpit mine, combined with an in-pit crushing system (IPCS) for waste rock. Mining operations will use drills and haul trucks, together with hydraulic shovels, and a semimobile waste IPCS, with the ore crusher located at the pit exit on the east side.

The project contains the Rose pit, which is to be divided into three phases. The peak mining rate is expected to be 81-million tonnes a year over the LoM.

A total of 643-million tonnes of ore will be mined at an average total iron-ore grade of 29.2%, with a total of 1.02-billion tonnes of combined waste and overburden, resulting in a stripping ratio of 1.6 t of waste per tonne of ore mined.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
A pretax net present value, at an 8% discount rate, of $1.48-billion and an internal rate of return of 12.1%, with a payback of seven years, have been estimated for the project.

Capital Expenditure
$3.86-billion.

Planned Start/End Date
The project is expected to take 48 months to complete, following a final investment decision.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Champion Iron, tel +1514316 4858 or email info@championironmines.com.
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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