Rum Jungle raises its glass to scoping study
PERTH (miningweekly.com) – ASX-listed junior Rum Jungle Resources' Barrow Creek 1 phosphate project, in the Northern Territory, would likely prove profitable for the company, after a scoping study showed some positive results.
The scoping study identified three phosphate production and transport options as potentially economic and technically viable to develop the Barrow Creek 1 project as a standalone operation, with an estimated life-of-mine of 25 years.
“We are very pleased with the progress of the Barrow Creek 1 project and the positive outcome of the scoping study highlighting the potential for Barrow Creek 1 to be developed on a standalone basis,” said MD David Muller.
He noted that the study had been conservative in its assumptions of project timing and capital and operating costs, as well as phosphate recoveries and assumptions around long-run phosphate prices and exchange rate.
The three options identified included a direct-shipping start-up that ramped up to a 1.8-million-ton-a-year operation, a beneficiation operation delivering 1.8-million tons a year of phosphate product, and the production of some 540 000 t/y of merchant grade phosphoric acid.
Capital estimates range from between A$277-million to some A$830-million, with net present value ranging from A$340-million to A$450-million, and production slated to start in 2016.
The scoping study recommended that a prefeasibility study be undertaken to further define the optimum development option for the project.
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