Located in the Pilbara region of Western Australia, Spinifex Ridge is fully permitted and ready for immediate development subject to achieving a successful project financing. The Project has been defined at a 20 million tonne per annum mining and processing operation with the potential for major expansion.
The Company is currently reviewing alternative development scenarios for Spinifex Ridge. The initiatives reflect the recent downturn in world molybdenum prices and the ongoing uncertainty in the international financial and credit markets. Scoping study activities have commenced for the development of an 8-10 million tonne per annum mining operation and processing plant.
Spinifex Ridge Molybdenum Project Highlights;
- Definitive Feasibility Study completed
- 20 million tonne per annum project
- Fully costed and defined from deposit to steel mill
- Environmental permits in place
- All mining leases granted
- Native title agreements in place
- Long Lead items ordered
- Key operating agreements in place
- Process design work complete
- Copper by-product credits
- Tolling agreements and strategic alliance in place with Molymet, the worlds largest independent processor of Molybdenum concentrates
- Offtake agreements in place over 100% of Mo production
- 24 million Ib Mo per annum, 27 million Ib Cu per annum
- Low risk execution and construction, ideal location
- Iron Ore mineralisation could provide further project operating cost credits
- Interim financing facility for US$150 million in place
- staged development scenarios under review:
- 8-10 mtpa
- 20 mtpa
- 33 mtpa
| Resource |
| Classification |
Tonnes |
Mo |
Cu |
Mo cut-off |
|
A full description of the company’s resources and reserve can be found in the latest NI43-101 Technical Report.
