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Korab gains mining licence at Winchester

22nd October 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior Korab Resources has been awarded a 352 ha mining lease over its Winchester magnesium carbonate project, in the Northern Territory, for an initial 25-year period.

A January prefeasibility study estimated that the project would require a capital investment of A$4-million and considered various capacity levels, ranging from a 250 000 t/y to a one-million-tonne-a-year run-of-mine capacity.

Operating costs for staged operation would range between A$29/t for the 250 000 t/y operation, to A$21/t for the one-million-tonne-a-year operation, with production ranging from 200 000 t/y of coarse saleable magnesite to 800 000 t/y of coarse saleable magnesite.

The project’s ultimate output would depend on offtake or long-term sales agreements.

Korab said on Thursday that discussions with potential funders and magnesium carbonate buyers are at an advanced stage.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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