https://www.miningweekly.com
Construction|Consulting|flotation|generation|Mining|PROJECT|srk|SRK Consulting|Waste|Waste
Construction|Consulting|flotation|generation|Mining|PROJECT|srk|SRK Consulting|Waste|Waste
construction|consulting-company|flotation|generation|mining|project|srk|srk-consulting|waste-company|waste

Wicheeda rare earths project, Canada – update

Location map of the Wicheeda project

Photo by Defense Metals

29th March 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

Font size: - +

Name of the Project
Wicheeda rare earths project.

Location
British Columbia, Canada.

Project Owner/s
Defense Metals.

Project Description
Defense Metals announced a positive preliminary economic assessment (PEA) in November 2021.

The PEA envisages a 1.8-million-tonne-a-year openpit mining operation with a 1.75:1 (waste:mill feed) strip ratio over a 19-year mine life that includes three years of construction, and early revenue generation through phased openpit development.

Material from the Wicheeda deposit will be processed in a flotation concentrator to produce a flotation concentrate, which will be further processed at the hydrometallurgical plant.

Average rare-earth oxide production is estimated at 25 423 t/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $765-million and an internal rate of return of 20%.

The capital payback is five years from the start of production, and assumes partial self-funding of construction of the hydrometallurgical plant from concentrate sales.

Capital Expenditure
Initial capital expenditure (capex) is estimated at $461.42-million and includes a contingency allowance of 20% to 25% for major items.

The expansion capex under a cash-funded scenario is $474.09-million.

Planned Start/End Date
Not stated.

Latest Developments
Defense Metals has appointed HCF International Advisers to conduct a strategic funding review.

The review will assist Defense Metals in analysing potential options and strategic partnerships for the project beyond the completion of its preliminary feasibility study (PFS), expected in the second quarter.

Key Contracts, Suppliers and Consultants
SRK Consulting (PEA) and HCF International Advisers (strategic funding review).

Contact Details for Project Information
Defense Metals, tel +1 778 994 8072 or email todd@defensemetals.com.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.116 0.174s - 128pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: