PERTH (miningweekly.com) – ASX- and Aim-listed mineral sands miner Base Resources has taken a final investment decision on the $28.1-million Bumamani project, which will extend the mine life of its Kwale operations, in Kenya, by 13 months to December 2024.
The Bumamani project comprises the higher-grade subsets of the Bumamani and Kwale North Dune deposits.
The investment decision comes after a positive definitive feasibility study for the Bumamani project, which estimated that an additional 17.9-million tonnes of ore reserve could be mined to produce an estimated 42 000 t of rutile, 171 000 t of ilmenite, and 20 000 t of zircon.
Operating costs per tonne for Bumamani have been estimated at $4.64/t of ore mined.
Capital costs for the project had been estimated at $28.1-million, and would include the acquisition of land and additional mine services and infrastructure that would be required. The costs would be funded from internally generated cash flows, Base said.
The company told shareholders on Monday that incorporating mining at the Bumanani project, rutile production for 2023 has now been estimated at between 62 000 t to 73 000 t, while ilmenite production would reach between 260 000 t to 310 000 t, and zircon production between 22 000 t and 27 000 t during the financial year.
For the 2022 financial year, rutile production has been targeted at between 73 000 t and 83 000 t, while ilmenite production will be between 310 000 t and 340 000 t, and zircon production between 24 000 t and 28 000 t.