Pilbara orders long-lead items for Pilgangoora
PERTH (miningweekly.com) – ASX-listed Pilbara Minerals has ordered its first long-lead items for the Pilgangoora project, in Western Australia, to support the fast-track development of the lithium/tantalum project.
The company on Friday announced that it had placed an order for a high-pressure grinding rolls crusher, with the board also approving the order of two additional long-lead items required for the processing plant, namely a ball mill and spodumene concentrate filter.
Pilbara is aiming to start commissioning work at the Pilgangoora project in late 2017.
“We have an aggressive development timetable to ensure that construction at Pilgangoora can commence as soon as the company secures an appropriate funding package and the board makes a final investment decision,” said MD Ken Brinsden.
“Having certainty around the timing of delivery of key capital items is an important part of our coordinated development strategy, and will help to de-risk our project implementation timeline.”
A definitive feasibility study (DFS) into the Pilgangoora project confirmed a base case production of 314 000 t/y of 6% spodumene concentrate and 321 000 lb/y of tantalite.
The project is expected to generate revenue of some A$9.23-billion over its 36-year mine life, and earnings before interest, taxes, deprecation and amortisation of A$4.22-billion. The DFS estimates that the project will have a net present value of A$709-million and an internal rate of return of 38.1%.
The project is expected to cost some A$241-million to develop.
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