Barrambie scoping proves positive for Reed
PERTH (miningweekly.com) – A scoping study for ASX-listed Reed Resource’s Barrambie titanium project, in Western Australia, has predicted that the project could deliver about 13 000 t/y of titanium dioxide and 300 t of vanadium oxide.
Barrambie was expected to have a life-of-mine of about 27 years, sourcing its ore from a mineral resource of 47.2-million tonnes, grading 22.18% titanium dioxide and 0.63% vanadium oxide.
The project would require a capital investment A$109-million, and would have a net present value of A$87-million and an internal rate of return of 24%.
Mining would be conducted on a campaign basis by contract miners, and net operating costs have been estimated at A$1 214/t.
Reed MD Chris Reed said on Thursday that following the scoping study results, the company would now progress the continuous scale mini pilot plant evaluation of the proprietary hydrometallurgical technology to produce high-purity titanium, subject to the receipt of a technology licence, which was anticipated shortly.
Reed noted that the scoping study had also identified several opportunities to further improve the economics of the project by optimising factors such as the scalability of the plant throughput rate, cogeneration of electricity to reduce operating costs and the production of aluminium oxide product.
Subject to the success of the mini pilot testwork, Reed would proceed with a prefeasibility study, which would likely be completed by September next year.
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