Australian Mines fast-tracks, expands Flemington PFS
ASX-listed Australian Mines says the prefeasibility study (PFS) for its high-grade Flemington scandium project, in Australia, will be fast-tracked and expanded, to include studies assessing the potential to increase yearly scandium oxide (Sc₂O₃) production from the 60 t/y contemplated in the scoping study to up to 180 t/y, to address any supply shortfalls and growing demand.
The PFS will be undertaken in parallel with a new drilling programme aimed at testing potential extensions to the existing mineral resource and providing additional material for metallurgical testwork.
The PFS follows the delivery of a compelling scoping study that demonstrated strong economics with significant leverage to market-aligned pricing scenarios, the company points out.
This comprised a post-tax net present value (NPV) of about $860-million and an internal rate of return (IRR) of 74% at $3 000/kg Sc₂O₃ (market-aligned pricing scenario); and a post-tax NPV of about $270-million and IRR of 32% at $1 500/kg Sc₂O₃ (mine design price).
Moreover, there was an initial estimated capital cost of $125-million for a 60 t/y Sc₂O₃ operation, with estimated cash costs of $561/kg Sc₂O₃; a 28-year mine life based on a 2.09-million-tonne production target; an average feed grade of 573 ppm scandium over the first 15 years; and 2.09-million tonnes processed.
The PFS is anticipated to take six to nine months to complete.
“Following the successful delivery of the Flemington scoping study in April, we are pleased to have commenced the PFS and to assess opportunities to further unlock the potential of this high-grade scandium asset.
“Recent developments in the scandium market, particularly the potential growth in scandium demand associated with Bloom Energy’s expanding solid oxide fuel cell deployment, reinforce the strategic importance of developing new, scalable Western scandium supply,” says MD Andrew Nesbitt.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...
VISIT SHOWROOM
Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
