Blackthorn to start DFS for Zambia copper project
PERTH (miningweekly.com) – An optimised prefeasibility study (PFS) for ASX-listed Blackthorn Resources’ Kitumba copper project, in Zambia, has more than tripled the project’s expected value.
The optimised PFS estimated that the Kitumba project would have an internal rate of return (IRR) of 21% and a net present value (NPV) of $461-million. This compared with an initial IRR estimate of 12.7%, and a NPV estimate of $108-million.
The project’s proposed cash costs have also decreased from an initial $2.04/lb to $1.57/lb.
“We are delighted with the results of the PFS optimisation for the Kitumba copper project. We have carefully developed the PFS to represent a fully implementable project,” said Blackthorn CEO Mark Mitchell.
“The results show that we have an economically robust project at prefeasibility study level, and we have identified a proven, cost-effective mining and processing solution with the work having been done to understand the orebody.”
Meanwhile, project development costs have increased from the initial $358-million to $680-million, but copper recoveries have increased to 92%, with the project now expected to deliver yearly production of up to 70 000 t, with an average of 58 000 t/y over the life of the project, rather than the initial average of 39 000 t/y copper.
The underground mine life has remained unchanged at 11 years.
Mitchell said that Blackthorn would now move to the definitive feasibility study (DFS) stage, with the aim of further refining and improving the project economics.
“Blackthorn is in discussions with a number of potential partners to help fund the DFS, work with us to improve the project outcomes and ultimately deliver a high performance and responsible copper asset in Zambia.”
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
