Name of the Project
Platina scandium project.

Location
New South Wales, Australia.

Project Owner/s
Platina Resources.

Project Description
A definitive feasibility study (DFS) has confirmed the technical and financial viability of constructing a simple, low strip ratio, opencut mining operation and processing facility producing scandium oxide at Platina.

The project will be developed in stages.

Stage 1 involves small-scale scandium oxide production of 20 t/y.

Stage 2 involves increased scandium oxide production to 40 t/y by upgrading the processing train.

While not studied in the DFS, there is potential to produce cobalt, nickel and high-purity alumina.

The site layout and design consider an additional Stage 3 expansion, with a second parallel processing train to meet expected market growth for scandium.

While considered for planning, Stage 3 is not part of the DFS assessment.

Based on the current resource estimate, the project has a mine life of 30 years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project generates an estimated after-tax net present value, at an 8% discount rate, of $166-million and an internal rate of return of 29%, with a payback of 5.3 years.

Capital Expenditure
Stage 1 capital expenditure is estimated at $48.1-million and Stage 2 at $11.1-million.

Planned Start/End Date
Not stated.

Latest Developments
Platina Resources has reported that it will update its independent scandium market study and will work with Traxys Europe SA to assess scandium product and market development, as well as the potential funding options for its scandium project.

The sharpened focus on the scandium project comes in response to mining major Rio Tinto’s recent announcement that it will build a commercial scandium oxide demonstration plant in Quebec.

Key Contracts and Suppliers
Ausenco Services (process design, capital and operating cost estimates, compilation of the DFS report); Element 21 (scandium solvent extraction and refining); ATC Williams (residue storage and geotechnical); RW Corkery & Co (environmental and permitting); Measured Group (mine planning); MCD Geo (financial modelling) and CM Group (scandium market analysis).

Contact Details for Project Information
Platina Resources MD Corey Nolan, tel +61 7 5580 9094 or email admin@platinaresources.com.au.