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Sunrise project FEED behind schedule – Clean TeQ

30th September 2019

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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The work plan and schedule for the Sunrise battery materials complex in New South Wales will be revised, Melbourne-based Clean TeQ said on Monday, reporting that the front-end engineering design (FEED) on the project was behind schedule.

The mine developer said that it was assessing the FEED progress on the cobalt/nickel project and that an update would be provided in the coming weeks.

Once in production, Sunrise will be one of the world’s largest integrated suppliers of battery grade nickel sulphate and cobalt sulphate – the key raw materials in the production of cathodes for lithium-ion batteries.

A 2018 definitive feasibility study established that the project could deliver an average of 19 620 t/y of nickel and 4 420 t/y of cobalt over the first ten years of its life.

The base case scenario predicted a net present value of $1.39-billion and an internal rate of return of 19.1%.

Clean TeQ is looking to offload about 50% of the project and started a partnering process in June this year.

Edited by Creamer Media Reporter

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