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Admiralty PFS delivers results in Chile

6th May 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – A prefeasibility study (PFS) by junior Admiralty Resources over its Mariposa iron project, in Chile, has delivered positive results.

The company reported on Monday that the PFS study estimated that the project, which forms part of the Harper South project portfolio, would have a life-of-mine of some 12 years, based on the current resource of 66.66-million tons, grading 35.6% iron.

The Mariposa project was estimated to have a capital cost of A$65.5-million, and would have an internal rate of return of 49.1% and a net present value of some A$211-million after tax, at an average long-term price of A$141/t of final product.

“We are extremely pleased with the results of the Mariposa PFS. The study has highlighted the robust economics of the project and encourages the company in the expansion of its resource and the development of full-scale mining and processing across its Harper South district,” said Admiralty chairperson Ross Harper.

The project would consist of a traditional openpit mining operation, with an on-site proessing plant. The plant would operate five days a week, with the project employing some 203 people on average.

Edited by Creamer Media Reporter

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