Pilbara's tantalum project proves positive
PERTH (miningweekly.com) – A feasibility study for junior Pilbara Minerals’ Tabba Tabba tantalum project, in Western Australia, has estimated that the project could be in production by the third quarter of this year, subject to funding.
At a capital cost of some A$3.9-million, of which A$1.5-million had already been spent, the project was expected to deliver 256 000 lb of tantalum in its first full year of production.
Life-of-mine production over the 19-month mine life was estimated at 365 000 lb.
The project would have a net present value of some A$14.4-million and an internal rate of return of 162%.
“The completion of the feasibility study is a significant milestone, with the positive results clearly demonstrating the Tabba Tabba project’s high grade and quality concentrate will deliver a technically and financially robust project,” said Pilbara Minerals executive and chief geologist John Young.
“Based on the results of the study, Pilbara Minerals and its joint venture partner Nagrom intend to fast-track the development of the Tabba Tabba project, subject to the completion of project financing.”
Young said that the project would deliver a steady source of cash flow for at least the next two to three years, with the potential for future growth from a number of sources, including the development of the nearby Strelley project.
The Tabba Tabba project currently has a Joint Ore Reserves Committee-compliant resource of 133 000 t, at 1 290 parts per million tantalum.
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