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Seymour and Root – mine and concentrator projects, Canada

Image of lithium ore

Photo by ©Bloomberg

16th February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Seymour and Root – mine and concentrator projects.

Location
Ontario, Canada.

Project Owner/s
Green Technology Metals.

Project Description
A preliminary economic assessment has considered two development options for the project:

Option 1 evaluates the economics of spodumene production from the Seymour and Root projects over their respective mine lives, without a converter. An estimated 207 000 t/y of saleable spodumene concentrates, or SC5.5 (about a 50:50 ratio), is expected to be produced, culminating in 15 years of mine production, with phased capital expenditure for two mines and concentrators.

Option 2 considers an integrated lithium project that includes the mines, concentrators and a lithium hydroxide facility, with average lithium hydroxide monohydrate production of 24 400 t/y over a 15-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The mine and concentrator project has an estimated after-tax net present value of C$1.19-billion and an internal rate of return of 54%, with a payback of 1.3 years.

The integrated project has an estimated net present value C$1.51-billion and an internal rate of return of 27%, with a payback of 3.3 years.

Capital Expenditure
Initial startup capital for the mine and concentrator is estimated at C$216-million and the second phase at C$467-million.

Startup capital expenditure for the integrated project is estimated at C$1.06-billion.

Planned Start/End Date
Not stated.

Latest Developments
A definitive feasibility study is under way, targeting a financial investment decision in 2024, ahead of planned construction activities. There is potential for production expansion and increases in mineral resources. Studies are under way, with a drilling programme planned for 2024.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Green Technology Metals, tel +61 8 6557 6825 or email info@greentm.com.au.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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