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AVZ Minerals Ltd.
Summary
| Project: | Manono | |
|---|---|---|
| Deposit: | Manono | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Lithium-Tin-Tantalum-Iron | |
| Date: | 11/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-11-2018: AVZ Minerals Ltd. announces a Scoping Study report for its Manono deposit at the Manono project. Updated scoping study for the Manono project. AVZ Minerals Limited (ASX:AVZ) “AVZ” or “the Company” is pleased to provide an update of the Scoping | |
| Resources: | (Resource, Total): 259.9Mt @ 1.63% Li2O, 844ppm Sn, 43ppm Ta2O5, 0.88% Fe | |
| CP/QP: | [Overall Report]: Micheal Cronwright (MSA Group Pty Ltd.) | |
| ABSTRACT: | AVZ Minerals Limited (ASX:AVZ) “AVZ” or “the Company” is pleased to provide an update of the Scoping Study (Updated) on the Manono Lithium Project (Project) in the Democratic Republic of Congo (DRC). As per the ASX announcement titled “AVZ Transport Update – Material Cost Savings” on 7 November 2018, AVZ’s technical team have reviewed several methods of transhipment of concentrate from the Manono Lithium Project and have identified significant savings that will reduce overall transport costs for the project. As per the results from the initial Scoping Study announcement dated 9 October 2018 (attached as Annexure A), the transport cost of the preferred route represents the largest operating cost amounting to some US$221/t of concentrate representing about 62% of all operating costs. The initial proposed transportation option, adopted closed, half height 20’ containers with a capacity of approximately 30t each. These containers would be truck loaded at site and then transferred to the port town of Moba on the west coast of Lake Tanganyika, a distance of about 360km. Containers would then be loaded on to a custom-made barge, sailed approximately 240km to the Tanzanian port of Kigoma and then offloaded directly to flat top rolling stock for railing to Dar es Salaam, some 1,450km away. As part of our continual optimisation strategy, the proposed method of packaging and moving the concentrate has been reviewed and the option to utilise 2 tonne “bulka bags” instead of closed containers was investigated. This removes the need to return the empty half height 20’ containers to Manono as the empty Bulka Bags can be returned to site in just one shipping container. This enabled simplification of available transport methods to port with positive economic results, reducing the transport cost and some associated costs by approximately US$58/t from the original estimate of US$221/t. We anticipate potential further transport related cost savings through negotiating volume discounts with transport providers. | |
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