Sigatoka iron sand project, Fiji
Name and Location
Sigatoka iron sand project, Fiji.
Client
Dome Gold Mines.
Project Description
A prefeasibility study (PFS) on the Sigatoka project has concluded that it is profitable and robust.
The PFS assumes that mining will be by conventional dredging of the river bed and nearby dunal deposits. Mining operations in both areas will be conducted simultaneously, although river dredging will start about a year earlier than the dunal mining.
The project is forecast to generate 351 000 t/y of magnetite concentrate, with an iron content of more than 58%.
Nonmagnetic bulk heavy mineral concentrates will amount to 260 000 t/y, while the 1.96-million tonnes a year of industrial sand an 684 000 t/y of gravel, which will be generated as a result of the deepening of the Sigatoka river bed for flood mitigation purposes, will be important coproducts.
Net Present Value/Internal Rate of Return
Project modelling indicates a net present value, at a 7.5% discount rate, of $236.9-million and an internal rate of return of 55%.
Value
Project capital is estimated at $83.2-million, with a payback of less than two years after the start of full production
Duration
Not stated.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Dome Gold Mines chairperson Garry Lowder, tel +61 2 8203 5620 or email glowder@domegoldmines.com.au.
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