First Quantum approves $840m Zambia expansion projects

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Laf1986

Messages: 4998

Inscription: Jeu 30 Juil 2009 19:54

Message Mer 12 Déc 2012 14:21

First Quantum approves $840m Zambia expansion projects

JOHANNESBURG (miningweekly.com) – The board of Toronto-listed First Quantum has approved $840-million worth of expansion projects in Zambia, where it owns the Kansanshi copper/gold mine and Trident project.

The company, whose C$4.86-billion offer for base metals miner Inmet was snubbed last month, said its board had approved the Sulphide No 3 (S3) treatment plant at the Kansanshi mine, as well as the Enterprise project and a capacity increase at Sentinel, both of which formed part of Trident.

The new S3 plant, which would cost $565-million, would treat up to 25-million tons of ore a year and would allow for up to 400 000 t of copper to be produced each year.

First Quantum said the recently announced revised mineral resources and reserves estimates supported the proposed doubling of Kansanshi’s processing capacity to 50-million tons a year. The company initially contemplated treatment capacity of between 14-million and 16-million ton a year for S3.

The increase in sulphide treatment, along with an increased mineral resources and reserves estimate, boosted First Quantum’s Kansanshi mine’s life from 11 years to 16 years.

The S3 plant would be constructed as a stand-alone facility and would draw on the detailed design work that had been undertaken for the sulphide concentrator at the Sentinel copper project.

The S3 plant would be fed from two semi-mobile crushers that would be located within the existing pit limits of the main and North West pits.

First Quantum indicated that concentrate produced from S3 would be pumped to the new smelter facility currently being constructed at Kansanshi for direct treatment.

The base metals company also announced that it would invest a further $275-million at Trident, with the board approving the Enterprise project and agreeing to an increase the throughput capacity at Sentinel, lifting the total approved capital estimate for Trident to $2-billion.

The throughput capacity at Sentinel would be increased to 55-million tons a year, from 40-million tons previously envisioned, by adding an expandable secondary crushing circuit, as well as the upgrading of specific equipment within the processing plant.

These enhancements would assist in ensuring that the company’s targeted copper production objectives of between 270 000 t/y and 300 000 t/y of copper could be achieved.

The current project timeline for completion in 2014 remained unchanged.

First Quantum would also be moving ahead on its third nickel mine, called Enterprise. Given the operational and infrastructure synergies with Sentinel, Enterprise was expected to be a low-cost producing mine.

The four-million-ton-a-year processing plant would be built at the nearby Sentinel facilities and would undertake crushing, milling and flotation.

First Quantum highlighted that the plant would be designed to be used to augment the Sentinel copper throughput capacity by about four-million tons a year, in instances where nickel ore from the Enterprise was not being processed.

Enterprise’s maiden measured and indicated mineral resource was recently increased to 40.1-million tons at 1.07% in contained nickel and its maiden mineral reserve increased to 32.7-million tons at 1.10% contained nickel.

First Quantum stated that this confirmed the potential for an operation producing on average 38 000 t of nickel a year, with scope to increase to 60 000 t/y.
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Laf1986

Messages: 4998

Inscription: Jeu 30 Juil 2009 19:54

Message Mer 12 Déc 2012 15:35

Re: First Quantum approves $840m Zambia expansion projects

Pas la même production que celle actuelle. Pour moi il s'agit d'une énorme news, ca va devenir un monstre

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