Savannah North to start production by November
PERTH (miningweekly.com) – Base metals miner Panoramic Resources on Tuesday said that first nickel ore from the Savannah North operation, in Western Australia, is expected by November this year, just 16 months after a decision to re-open the mine was taken.
MD Peter Harold told delegates at the Paydirt Nickel conference, in Perth, that first ore would come from development drives being constructed to access the Savannah North orebody which is now only 70 m from the Savannah orebody.
“The future of this mine is all about Savannah North,” Harold said.
“We had mined Savannah for ten years and didn’t even know the Savannah North orebody was there, until we took a punt and drilled a blind hole to the west. It is a big orebody, about 175 000 t of nickel starting about 800 m below surface.
“We don’t even know yet how big it is but we estimate around two kilometres in strike – and we have only drilled out about a third of the potential strike.”
At full production Savannah North will produce around 950 000 t/y of ore, delivering 90 200 t of nickel in concentrate, 50 700 t of copper in concentrate and 6 700 t of cobalt in concentrate over the mine life, or 10 800 t/y of nickel in concentrate, 6 100 t/y of copper in concentrate and 800 t/y of cobalt in concentrate.
Harold said that Panoramic’s new mining push also comes as the company has successfully halved its total senior and mezzanine debt obligations to Macquarie Bank, with senior debt now sitting at only A$20-million.
“Debt can be difficult during ramp-up so it’s critical we get into Savannah North and its cash flow potential, as quickly as we can.”
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation