https://www.engineeringnews.co.za

Blackthorn hopes for lower costs at Kitumba

27th March 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Blackthorn Resources was hoping to lower the capital cost expectations of its Kitumba copper project, in Zambia.

Blackthorn told shareholders on Thursday that optimisation work on the previous prefeasibility study (PFS) had so far indicated improved fee grade and recovery, lower operating costs and substantially improved economics.

The initial PFS, which was completed in September last year, indicated that a capital investment of some $358-million would be required to develop an underground operation with a life-of-mine of 11 years.

Ore production was expected to be about three-million tonnes a year of run-of-mine coal to a combination flotation and solvent extraction and electrowinning plant to produce about 39 000 t/y of copper.

The project was initially thought to have a net present value of $108-million and an internal rate of return of 12.7%.

“Considerable progress has been made on the Kitumba copper project PFS optimisation, and we are greatly encouraged by the outcomes to date,” said Blackthorn CEO Mark Mitchell.

“While the preliminary PFS results released in September indicated that the Kitumba project was economically and technically feasible, the optimisation work is providing further indication of enhanced economics in line with our expectations outlined when the optimisation programme started.”

The results of the optimisation study were expected by the end of April this year.

Edited by Creamer Media Reporter

Comments

Showroom

Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 
Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.081 0.134s - 156pq - 2rq
Subscribe Now