Aeon Metals
Name of the Project
Walford Creek copper/cobalt project.
Location
The project is located in north-west Queensland, Australia.
Project Owner/s
Aeon Metals.
Project Description
A revised scoping study, completed in July 2021, envisages a conventional openpit and underground mining of existing Vardy, Marley and Amy deposits delivering an initial operating life-of-mine of 14 years.
The project includes a three-million-tonne-a-year comminution and flotation plant feeding a 1.5-million-tonne-a-year pressure oxidative-leach plant yielding high-grade, high-payability products for copper, cobalt, zinc, silver and nickel.
Total contained production consists of 243 000 t copper, 33 000 t cobalt, 278 000 t zinc, 26-million ounces of silver and 15 000 t nickel. Total copper equivalent production consists of 590 000 t and average copper equivalent output at nameplate of about 50 000 t/y.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The revised scoping study forecasts an ungeared, real, after-tax net present value, at an 8% discount rate, of between A$375-million and A$805-million and an internal rate of return of between 13% and 18%, with a payback within four to five years.
Capital Expenditure
Forecast preproduction capital expenditure is estimated at A$996-million, including 20% contingency.
Planned Start/End Date
Not stated.
Latest Developments
Aeon Metals has paused the prefeasibility study (PFS) on its Walford Creek copper/cobalt project on the back of ever-increasing global input costs and supply chain volatility.
Recent geopolitical events have seen global input costs increase significantly, along with supply chain volatility, which has challenged the basis to complete a consistent and coherent economic assessment of the Walford Creek project.
The company has said that as there is no pressing need to finalise the PFS, the company will instead focus on its exploration programme for 2022, ensuring the orebody is exploited to its full potential.
Key Contracts, Suppliers and Consultants
H&SC (mineral resource estimation); PSM (geotechnical); AMDAD (mining, capital and operating costs); Geometcon (processing, capital and operating costs); and Ed Newman & Associates and Orangegum Consulting (environment, permitting, social and community studies).
Contact Details for Project Information
Aeon Metals, tel +61 2 9232 2298 or email info@aeonmetals.com.au.