Name of the Project
Oropesa tin project.

Location
Cordoba province, in Andalucía, Spain.

Project Owner/s
Elementos.

Project Description
An optimisation study completed in March 2022 confirmed a robust case for a 1.25-million tonnes a year run-of-mine rate, with average contained tin production projected at 3 350 t/y over a 13-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The optimisation study, based on a conservative tin price of $32 50/t, demonstrates a real, ungeared pre- and after-tax net present value, at an 8% discount rate, of about $219-million and $149-million respectively. 

The pre- and after-tax internal rate of return (IRR) is about 46% and 38% respectively. 

The capital payback period is estimated at 2.5 years.

Capital Expenditure
$86-million, including a 20% contingency.

Planned Start/End Date
Elementos is targeting primary approvals and a final investment decision by the end of 2025, ahead of planned delivery of Oropesa’s first tin concentrate in late 2027.

Latest Developments
Elementos plans to complete the definitive feasibility study by the end of 2024, after having secured administration support in May 2024 for a modified project layout.

The company plans to open a new administrative file, the first step in the resubmission of primary licence documentation, which it estimates will be resubmitted in about four months. Elementos is confident that Oropesa’s approvals can be achieved within 15 to 18 months.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Elementos, tel +61 7 2111 1110 or email admin@elementos.com.au.