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Kamistiatusset (Kami) iron-ore project, Canada

7th December 2018

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Kamistiatusset (Kami) iron-ore project.

Location
Western Labrador, Canada.

Client
Kami Mine Limited Partnership, a joint venture between Alderon Iron Ore (75%) and HBIS (25%).

Project Description
The updated feasibility study on the Rose deposit of the Kami project completed in September 2018 has demonstrated the strong economics of the project, which will produce a premium-quality iron-ore concentrate with higher iron content and ultralow impurities relative to the 62%-iron grade benchmark.

The project hosts proven and probable reserves of 517.2-million tonnes grading 28.8% total iron.

The project will produce 7.84-million tonnes a year of 65.2% iron concentrate over a 23-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.70-billion and an internal rate of return of 24.6%, with a payback of four years.

Value
The total estimated capital cost of the project is $982.41-million.

Duration
The project will take 26 months to construct.

Latest Developments
None stated.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Alderon Iron Ore, tel +1 604 681 8030 or email info@alderonironore.com.

 

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