Sorby Hills clears NAIF hurdle
PERTH (miningweekly.com) – The Northern Australian Infrastructure Facility (NAIF) has progressed the Sorby Hills lead/silver/zinc project, in Western Australia, to the due diligence stage.
Project owner Pacifico Minerals on Monday announced that the NAIF had completed its strategic assessment of the project.
“Pacifico is delighted to have received confirmation that NAIF has progressed Sorby Hills to the due diligence stage of its debt funding assessment process. NAIF’s decision provides additional confidence as we progress our definitive feasibility study,” said Pacifico MD Simon Noon.
“The decision also encourages us to explore opportunities that both add value to the project and deliver positive economic and social outcomes for the local community.
The NAIF is a federal government organisation with a debt finance capacity of A$5-billion, which can be lent to support infrastructure development which generates public benefit for Northern Australia.
The A$183-million Sorby Hills project is expected to produce some 81 000 t/y of 62% lead/silver concentrate containing 50 000 t/y of recovered lead and 1.5-million ounces a year of recovered silver, across an initial ten-year mine life.
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