Nimbus cleared for mining - MacPhersons
KALGOORLIE (mininingweekly.com) – The Western Australian Department of Mines and Petroleum has approved ASX-listed MacPherson Resources’ development of its Nimbus silver/gold/zinc mine.
The company said on Monday that the state government approval would allow mining and processing operations to restart at Nimbus.
The project was operational between 2003 and 2007, processing 319 999 t, at an average head grade of 325 g/t silver to produce about 3.6-million ounces of silver.
Scoping studies revealed that the project would require a total capital injection of between A$58-million and A$66-million, with all-in cash costs estimated at between A$12/oz and A$16/oz silver and between A$600/oz and A$1 050/oz gold.
However, preliminary results from the bankable feasibility study, which was scheduled for completion in the December quarter, indicated that lower capital costs not only had the potential to boost margins, but could also result in the cutoff grades of the project being reduced, which, in turn, could increase reserves and grow the mine life.
The state government’s approval included plans to construct a 480 000 t/y treatment facility at Nimbus, which was a four-fold increase over the original plant size, and includes the construction of a tailings storage facility and integrated waste landform, as well as the start of openpit mining.
First production from Nimbus has been slated for late 2015.
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