Name of the Project
Nebo-Babel base metals project.

Location
West Musgrave, in Western Australia.

Project Owner/s
The project is a joint venture between OZ Minerals (70%) and Cassini (30%).

Project Description
A prefeasibility study (PFS) has confirmed that the project can be a low-carbon, low-cost, long-life mine producing copper and nickel operation, with a processing capacity of ten-million tonnes a year over a mine life of about 26 years.

The project has a maiden probable reserve of 220-million tonnes at 0.36% copper and 0.33% nickel.

Average nickel production is estimated at 22 000 t/y and average copper production at about 28 000 t/y.

OZ Minerals is also aiming for the mine to be powered by up to 80% renewable energy.

Potential Job Creation
Not stated.

All-in Sustaining Costs/All-in Costs
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value of A$800-million and an internal rate of return estimated at 20%, with a payback of about six years from the decision to mine.

Capital Expenditure
Preproduction capital is estimated at A$995-million.

Planned Start/End Date
Not stated.

Latest Developments
The PFS results are being assessed under the OZ Minerals’ capital allocation framework ahead of a potential future feasibility study.

The PFS has given the partners a solid platform for engaging with potential lenders and advisers on how best to fund and structure the project before progressing to the next phase.

Key Contracts and Suppliers
Not stated.

Contact Details for Project Information
Cassini Resources, tel +61 8 6164 8900 or email admin@cassiniresources.com.au.