Tombador PFS proves up
PERTH (miningweekly.com) – A prefeasibility study (PFS) into the Tombador iron project, in Brazil, has estimated that the project could support the production of 1.2-million tonnes a year of direct shipping ore (DSO) over a five-year period.
The PFS was based on a maiden ore reserve of 5.59-million tonnes, at 65.5% iron.
ASX-listed Tombador Iron on Tuesday said that the project would require a capital investment of A$7.9-million, but could deliver life-of-mine revenues of A$395-million and project cash flows of A$218-million, with average annual earnings before interest, taxes, depreciation and amortisation of A$53.7-million.
The PFS estimated a pay-back period of just over one year, and life-of-mine capital costs of A$10.1-million.
“The PFS confirms we have a great project capable of delivering strong financial returns,” said Tombador Iron CEO Gabriel Oliva.
“The PFS was based on a production target of 1.2 Mtpa and the last 5-year average iron-ore index price The project is forecast to generate healthy cashflows on this basis. Now our focus is to increase sales volumes in the domestic and export markets so that our sales volumes equal the production target.”
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