Name of the Project
Bowdens silver project.

Location
About 26 km east of Mudgee, in the central Tablelands region of New South Wales, in Australia.

Project Owner/s
Silver Mines Limited.

Project Description
The project is the biggest undeveloped silver deposit in Australia.

The project comprises an opencut mine, developed in six stages, feeding a new processing plant comprising conventional semiautogenous grinding mill and ball mill circuit, differential flotation, thickening and dewatering to produce two concentrates that will be sold for smelting and refining to finished metals. Plant capacity is designed for two-million tonnes a year and the open-cut mine has an initial life of 16 years.

The feasibility study has demonstrated that the project will produce an average of 3.4-million ounces of silver a year, together with about 6 900 t/y of zinc and 5 100 t/y of lead.

As a result of higher silver grades in the early stages of mining, average production during the first three years of operation will be about 5.4-million ounces of silver a year and 6 000 t/y of zinc and 5 200 t/y of lead.

Potential Job Creation
Peak workforce is estimated at 320 personnel during construction and 230 personnel during operations.

Net Present Value/Internal Rate of Return
The project has a net present value of A$143.9-million and an internal rate of return of 20.8%

Capital Expenditure
Initial capital costs are estimated at A$246-million, including mine development, a processing plant, a tailings storage facility and power supply.

Planned Start/End Date
The project is set to start operations in 2023.

Latest Developments
The New South Wales Supreme Court of Appeal has upheld an appeal by the Bingman Catchment Landcare Group against the Bowdens silver project.

The decision means that the company cannot rely on the development consent for the project, which the state’s Independent Planning Commission (IPC) approved in April 2023.

Bingman initially brought proceedings against the IPC and Silver Mines in the Land and Environment Court of New South Wales, which dismissed the proceedings. Bingman then turned to the Court of Appeal.

Silver Mines is working with its legal advisers to assess the implications of the decision.

The appeal proceedings challenge the administrative processes taken by the IPC in deciding to grant the development consent for the project. The appeal is primarily centred on whether the IPC failed to fully consider the impacts of a potential transmission line – one of the options being considered to power the project.

Silver Mines is considering preparing and submitting a new development application for the project, including power supply options.

Key Contracts, Suppliers and Consultants
GR Engineering Services (overall study management, metallurgical testwork analysis, process design, engineering design); AMC Consultants (geotechnical assessment, metallurgical testwork management, ore reserve estimation, mine design and scheduling); ATC Williams (tailings storage facility design); Jacobs Group (hydrogeological investigations and modelling); RW Corkery & Co (environmental- and social-impact assessment); H & S Consultants (resource estimates); Barnson (road and site access); Energy Management Services (power supply); Bill Cunningham & Associates (product marketing and logistics); and Northshore Capital Advisor (financial analysis).

Contact Details for Project Information
Silver Mines Limited, tel+61 2 8316 3997 or email Info@silvermines.com.au.