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Terramin Australia Ltd.
Summary
| Project: | Tala Hamza | |
|---|---|---|
| Deposit: | Tala Hamza | |
| Location: | Algeria | |
| Commodities: | Zinc-Lead | |
| Date: | 8/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 29-8-2018: Terramin Australia Ltd. announces a Feasibility Study report for its Tala Hamza deposit at the Tala Hamza project. Feasibility study results incl. post-tax NPV of US $303M (8%), IRR of 14%, 21yr LOM at the project. Terramin, through its subsidi | |
| Resources: | (Reserve, Prob): 25.9Mt @ 6.3% Zn, 1.8% Pb for 1.6Mt Zn, 0.5M Pb contained at Tala Hamza | |
| CP/QP: | [Resources]: Eric Whittaker (Internal) | |
| ABSTRACT: | Terramin, through its subsidiary, Western Mediterranean Zinc Spa (WMZ), has completed an updated Definitive Feasibility Study (DFS) for the development of the Tala Hamza-Amizour zinc and lead Project (the Project) near Bejaia in northern Algeria. The updated DFS covers a zinc and lead deposit in the area of the Oued Amizour Mining Exploration Permit 6911 (PEM 6911), an area of 122.76 km2 held by WMZ. Exploration Permit 6911 expired 31 January 2018 and is expected to be superseded by the Mining Licence (ML). Although discussions have been active and ongoing, until the ML is approved there can be no assurance that the project will be endorsed by the Algerian government. The 2018 DFS contains a number of changes to the 2010 DFS undertaken to eliminate, or reduce to an acceptable level, environmental and social concerns with the block cave mining method. The changes include optimisation of previous studies, updating the Ore Reserve, revised plant layout, removal of the tailings storage facility and replacement with dry stacking, and updated economic analysis. The changes proposed by WMZ to achieve this include changing the mining and tailings disposal methods. The new mining method, Underhand Drift and Fill (UDF) is a small scale, selective mining method which has a higher associated mining operating cost compared to the original block cave mining method. The adoption of the new mining method increased the mine cut-off grade and reduced mining dilution, overall resulting in a net reduction in minable ore tonnes over the life of mine (LoM). Updated flowsheets, capital and operating costs, completed in conjunction with engineering company China ENFI Engineering Corp (ENFI), confirm the viability of an underground operation with a 1.4 million tonne per annum capacity process plant (utilised at the rate of 1.32Mtpa), which can deliver an average of 129,300 tpa of zinc concentrate at 54% Zn (90% recovery) and 26,000 tpa of lead concentrate at 63% Pb (73% recovery), at an average C1-cash cost of US$0.53c/lb and All-in Sustaining Cost (AISC) (including royalty) of US$0.61/lb. Based on the positive DFS results and expansion potential, the company is progressing further optimisation studies and permittin | |
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