Driftwood Creek magnesium project, Canada
Name of the Project
Driftwood Creek magnesium project.
Location
The project is located in southern British Columbia, Canada.
Client
MGX Minerals.
Project Description
The project has measured and indicated resources of 7.85-million tonnes grading 43.27% magnesium oxide (MgO).
The preliminary economic assessment (PEA) envisages the construction of a conventional quarry pit mine with a 1 200 t/d process plant using conventional crushing, grinding, flotation upgrading, calcination, and sintering to produce a saleable dead burn MgO product.
The plant is expected to achieve an average recovery of 90%, with a magnesium purity of 94.6%. The dead burn magnesium product will be bagged and transported to market for sale as a powder.
The plant will also be able to produce caustic-calcined MgO as a separate salable product.
Dewatered tails will be trucked back to the mine site quarry for dry stacking in a tailings storage facility.
The PEA estimates average MgO production of 169 700 t/y over an 18.8-year mine life.
Potential Job Creation
None stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $529.8-million, an internal rate of return of 24.5%, with a 3.5-year payback.
Value
Initial capital costs have been estimated at $235.9-million.
Duration
Not stated.
Latest Developments
MGX aims to further enhance the economics of the project with a PFS.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
MGX, tel +1 604 681 7735.
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