Kogi lowers strip ratio at Agbaja
PERTH (miningweekly.com) – Junior developer Kogi Iron has lowered the average strip ratio at its Agbaja project, in Nigeria, effectively bringing down mining costs to some $8/t of concentrate.
The iron-ore hopeful reported on Wednesday that based on further optimised mine planning, the strip ratio for the Agbaja project had been reduced from 0.72:1 to 0.55:1.
This meant that waste material movement was reduced by some 23%, and overall material movement was reduced by 9%.
“The company is very excited and encouraged by the excellent results achieved in the mine plan and subsequent mining cost estimate,” said Kogi MD Iggy Tan.
He noted that the reduced strip ration was low in iron-ore mining industry terms, adding that mining costs close to $8/t were very competitive and put Kogi in good stead for highly competitive overall operating costs, which would be finalised as part of the current prefeasibility study.
“A lot of hard work at an accelerated pace by Kogi’s management and project team means that we are still on track to deliver the prefeasibility study by the end of the first quarter,” said Tan.
The Stage 1 area of the Agbaja project was estimated to contain about 158-million tonnes of inferred resource, while the Stage 2 area was estimated to contain some 63-million tonnes of the total 488-million tonnes of inferred resource.
The Stage 1 area could provide processing feed for an initial 14 years, while the Stage 2 mining area could provide processing plant feed for an additional six years.
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