Name of the Project
Lac Jeannine iron tailings project.

Location
Quebec, Canada.

Project Owner/s
CoTec Holdings Corp.

Project Description
Lac Jeannine has an initial inferred mineral resource of 73-million tonnes at 6.7% total iron for 4.9-million tonnes of contained total iron.

A preliminary economic assessment (PEA) has proposed mining the tailings project using openpit mining methods with a conventional truck-and-shovel fleet. 

The project involves the extraction and reprocessing of tailings, based on an extraction rate of seven-million tonnes a year, to produce 380 000 t/y of concentrate for just over ten years. The concentrate is expected to be a premium-grade product containing 66.8% total iron with very low concentrations of deleterious elements such as silicon dioxide, phosphorous and aluminium oxide.On-site mineral processing will be through screening and size classification, followed by gravity separation to produce a bulk iron-bearing concentrate for sale. 

Rejected waste material from mineral processing is expected to be disposed of in the legacy Lac Jeannine openpit, consequently allowing for rehabilitation of the mined parts of the current tailings’ pile.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based solely on the mineral resource estimate, the project has a pretax net present value, at a 7% discount rate, of $93.6-million and an internal rate of return of 38%, with a payback of 2.5 years.

Capital Expenditure
$64.6-million.

Latest Developments
CoTec is proceeding with a feasibility study.

Key Contracts, Suppliers and Consultants
Addison Mining Services; Soutex Inc; JPL GeoServices and other independent experts (PEA).

Contact Details for Project Information
CoTec Holdings Corp, tel +1 604 992 5600  or email info@cotec.ca.