Venturex looks at larger Sulphur Springs
PERTH (miningweekly.com) – Metals developer Venturex Resources is considering a larger operation at its Sulphur Springs copper/zinc project, in Western Australia.
The ASX-listed company on Monday said that a definitive feasibility study (DFS) for the Sulphur Springs mine has increased the expected production from 1-million tonnes a year to 1.25-million tonnes a year in order to maximise the financial returns from the project.
The process plant has been configured to produce some 60 000 t/y of zinc and 45 000 t/y of copper concentrates, which was up from the 32 000 t/y of zinc and 12 000 t/y of copper flagged in the 2017 value engineering study.
Venturex on Monday said that a capital cost saving of some A$18.7-million has also been identified compared with the 2017 capital cost estimate of A$166-million, with further capital cost reduction strategies continuing.
The bulk of the cost savings would come from the accommodation camp, mobile equipment, access road and process plant, with some A$12.9-million saved through the purchase of the Spinifex Ridge accommodation camp from Moly Mines for only A$1-million.
The DFS will be completed by the end of the third quarter this year.
“As the DFS nears completion, we are pleased to see results that clearly demonstrate the robust nature of the Sulphur Springs project,” said Venturex MD AJ Saverimutto.
“Our team has diligently completed the design and construction process to ensure it is efficient, cost effective and can be delivered on time and on budget. Significant optimisations in project construction capital, mining, processing and operations are starting to show the true value of Sulphur Springs to Venturex, and its shareholders,” Saverimutto said.
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