Pisolite Hills ‘commercially attractive’ – Cape Alumina
JOHANNESBURG (miningweekly.com) – Pure-play bauxite company Cape Alumina on Monday announced that an updated prefeasibility study (PFS) had confirmed the technical and economic feasibility of its Pisolite Hills mine as a 7.5-million-tonne-a-year operation.
Based on a 134-million-tonne resource, the study established that the north Queensland-based mine could produce high-quality, export-grade bauxite over a 14-year life, with a free-on-board cash operating cost, at full production, of about A$23/t and an internal rate of return of 25.6%.
Capital costs were estimated at A$396-million assuming contract transshipment.
“The project is commercially attractive and will provide significant return to Cape Alumina,” the company said in a statement.
The ASX-listed company proposed to start production at Pisolite Hills at 2.5-million tonnes a year of dry beneficiated bauxite, building up to 7.5-million tonnes a year over two years.
Run-of-mine bauxite would be washed in three 650 t/h beneficiation plants, which incorporated crushing, sizing, screening and conveying.
Transshipping of the bauxite product was a key value driver of the operation, with the use of between 6 000 t and 10 000 t barges loading either 71 000 t Panamax or 166 000 t Capesize vessels, incorporated in the design.
Meanwhile, the company’s Bauxite Hills project, located some 50 km north-west of Pisolite Hills, would continue to be evaluated and progressed, and was likely to be considered as a second-stage development once Pisolite Hills was in production.
In addition, Cape Alumina continued to lead the Cape Alumina Consortium, which was bidding for the Aurukun bauxite project on the western Cape York Peninsula.
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