Orocobre moves ahead with boric acid plant
PERTH (miningweekly.com) – A prefeasibility study for dual-listed Orocobre’s Olacapato boric acid plant, in Argentina, has delivered positive results.
The ASX- and TSX-listed miner reported on Thursday that the 25 000 t/y plant would require a capital investment of $20.8-million to develop, and would deliver an after-tax net present value of $18.1-million and an internal rate of return of 24%.
The project, which was expected to have a mine life of about 20 years, would have a payback of just under five years.
“The project has a modest capital requirement and an attractive internal rate of return, and we will advance the project now to the definitive feasibility study stage and permitting,” Orocobre CEO and MD Richard Seville said.
He noted that while not material in-itself, the project was part of a range of initiatives and projects in each of the product streams that were rejuvenating Orocobre’s subsidiary Borax Argentina, and would establish the company as a major and profitable regional player.
Borax Argentina was acquired by Orocobre from mining giant Rio Tinto in August 2012, and operates openpit mines in Tincalayu, Sijes and Porvenir.
The Olacapato boric acid plant would service the mines in the Porvenir region, where Orocobre has reported a measured and indicated resource of 1.02-million tonnes.
Borax Argentina has been producing boric acid at its Camp Quinjano plant since 2003, at a capacity of 9 000 t/y, using a feed grade of 26% boron trioxide. The proposed new plant at Olacapato would process lower-grade ore of between 16% to 20% boron trioxide.
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