Blackthorn to start discussions for Kitumba project partner
PERTH (miningweekly.com) – ASX-listed Blackthorn Resources is on the hunt for a project partner to help fund the development of its Kitumba copper project, in Zambia.
At the end of April, Blackthorn announced that an optimised feasibility study for the project had more than tripled Kitumba’s expected value, estimating that the project would have an internal rate of return of 21% and a net present value of $461-million.
The project would require a capital investment of about $680-million to develop, and could deliver yearly production of up to 70 000 t, with an average of 58 000 t/y over the 11-year mine-life.
Blackthorn said on Friday that with the release of the optimised feasibility study, the company could now hold “fully informed” discussions with potential partners.
“Blackthorn will actively explore all avenues to realise shareholder value for the project and to secure its progress,” the miner reported, adding that it was prepared to look at a range of asset-level partnerships and financing options in preference to undertaking a dilutive equity raising.
The junior developer was expected to launch a definitive feasibility study (DFS) for the Kitumba project in parallel with these discussions.
The DFS would be funded by available funds, as well as funds from the divestment of Blackthorn’s interest in the Perkoa zinc joint venture, in Burkina Faso, to partner GlencoreXstrata. Blackthorn has signed an agreement with Glencore to sell its 27.3% stake for $12-million.
Comments
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