Vital eyes 2021 start for Canadian mine
PERTH (miningweekly.com) – ASX-listed Vital Minerals is targeting a 2021 start for its Nechalacho rare earths project, in Canada.
An independent study on the construction and operation of the Nechalacho project found that the ore sorting plant would require a capital investment of $3.7-million.
The design for the North T pit has been completed, which is estimated to contain some 8 000 t of rare earth oxide, allowing Vital to finalise a mining contract. Site preparation work is expected to start in August this year, while the mining contract will be finalised between September and January, allowing a mining fleet to moblise in February.
Mining operations are targeted to start between April and October, with ore sorting operations to start between May and October. The construction of the rare earth extraction facility will start in February 2021, and operations at this facility will start in August of the same year.
“We have adopted a completely different strategy to traditional rare earth developers with a focus on low cost near term cashflow,” said Vital MD Geoff Atkins.
“The completion of detailed engineering for the ore sorting plant, with defined capital and operating costs confirms that Vital remains on track with this strategy, with production due to start in 2021.”
Vital is continuing negotiations with a number of prospective offtake customers, with the first offtake agreement targeted for the third quarter of this year.
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