Steller improves Heemskirk economics
PERTH (miningweekly.com) – An optimisation study into the Heemskirk tin project, in Tasmania, has resulted in a 62% increase in the project’s projected net present value and a 12.9% drop in capital costs.
Optimisation work on a 2013 preliminary feasibility study resulted in various project optimisations, including the simplification of the metallurgical process flow sheet, an increase in average tin recovery by 4.5%, capital equipment price reductions, optimised underground mine development rates and reduced engineering and construction costs.
As a result, the Heemskirk project’s estimated net present value increased from A$61-million to A$99-million, while capital costs reduced from the 2013 estimate of A$114-million to A$110.3-million.
Total operating costs also reduced from the A$23 269/t estimated in 2013 to A$21 355/t, on the back of a 5% reduction in mining, processing and administration cost and a 26% reduction in depreciation and amortisation expenses owing to lower pre-production capital expenditure.
“The successful results from the optimsiation programme have greatly enhanced the economics of our Heemskirk tin project. This outcome capitalises on the outstanding results from the March metallurgical testing programme and more recently on the benefits from mining efficiency and processing cost studies,” said Stellar MD Peter Blight.
“This work has placed Stellar in a strong position to accelerate definitive feasibility drilling and studies once funding has been secured,” he added.
The Heemskirk project was expected to produce some 4 527t/y tin in concentrate over a mine-life of nearly seven years, based on a mining inventory of 3.95-million tonnes, grading at 1.06% tin.
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