Platina MoU paves scandium way
PERTH (miningweekly.com) – ASX-listed Platina Resources has inked a memorandum of understanding (MoU) with metals leader Traxys Europe to jointly assess scandium production and market development from Platina’s project in New South Wales.
Under the terms of the MoU, Traxys will assist Platina to develop a strategic product, a market and marketing plan, and to arrange funding for the Platina scandium project.
In return, Traxys will be granted long-term exclusive marketing and distribution rights to the scandium products produced by Platina.
Platina MD Corey Nolan said that the MoU was a significant step in moving the Platina project forward.
“Platina and Traxys will work on determining the optimal paths for exploiting this significant market opportunity and other segments by leveraging Traxys’ global network aiming to bring the Platina project into production as quickly as possible.”
A definitive feasibility study into the Platina project had previously estimated that the project would have a post-tax net present value of $166-million, and after tax internal rate of return of 29%, based on the staged development with an initial plant design set to produce 20 t/y of scandium oxide, at a capital cost of $48.1-million.
The project will be expanded to an output of 40 t/y at an incremental cost of $11.7-million, as market demand for aluminium-scandium increased.
Based on the current resource estimate, the project is estimated to have a mine life of 30 years.
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