Lucky Bay garnet project, Australia
Name of the Project
Lucky Bay garnet project.
Location
Midwest region of Western Australia.
Project Owner/s
Resource Development Group.
Project Description
Lucky Bay comprises the Menari and Menari North heavy minerals deposits.
The project has total ore reserves of 202-million tonnes at 5.4% heavy minerals for a mine life of 29 years.
Total ore reserve of contained heavy minerals and contained garnet is estimated at 10.9-million tonnes and 9.3-million tonnes respectively.
A mining and processing strategy has been developed, based on a yearly processing plant rougher head feed rate of 3.35-million tonnes, increasing to 6.7-million tonnes in Year 3. This equates to base case garnet production of about 130 000 t/y, increasing to about 300 000 t/y when the planned second wet concentrator plant is commissioned and higher-grade ore is mined.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of A$483-million and an internal rate of return of 48%.
Capital Expenditure
Phase 1 is estimated at A$60-million and Phase 2 A$31.2-million.
Planned Start/End Date
The project is scheduled to be brought into production in the first quarter of 2022.
Latest Developments
All key permits have been granted.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Resource Development Group tel +61 8 9443 2928.
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