Name and Location
Namib lead/zinc/silver mine restart project, Namibia.

Client
North River Resources.

Project Description
The project entails the restart of the Namib lead/zinc/silver mine.

A mine development plan (MDP) on the project has demonstrated that the project has good economics based on the current mineral resource.

The Namib project has a total mineral resource of 928 000 t grading 2.4% lead, 5.7% zinc and 44.9 g/t silver.

Much of the inferred resources used in the MDP’s mineral inventory are being drilled to upgrade to indicated resources, which can then be converted into reserves and, hence, a full feasibility study.

Ore will be accessed through two existing declines. High-grade ore is ready to be mined, with minimal capital development required. The mine will be developed and ore extracted using hand-held techniques, with simple technologies being used to keep capital and operating costs down.

The MDP illustrates mining and processing 250 000 t/y of lead-, zinc- and silver-bearing ore.

Owing to the nature of the ore and host rocks, the process plant flowsheet has been designed with simplicity in mind.

The flowsheet consists of single-stage crushing, followed by a 450 kW ball mill, feeding into a sequential lead and zinc flotation circuit.

No thickening of the concentrates is required, with the flotation circuit feeding directly into the filters.

Net Present Value/Internal Rate of Return
The MDP estimates the project’s net present value at $12.4-million and its internal rate of return at 38%, with a payback of 1.4 years.

Value
The preproduction capital is estimated at $25.22-million.

Duration
Production is expected in 2015.

Latest Developments
Site preparation and advanced construction planning for the restart of the Namib mine are expected to start immediately after North River secured $12-million in equity funding from Greenstone Resources.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
North River Resources, tel +264 61 300205/7, fax +264 61 300209 or email reception@northriverresources.com.