QPM signs fourth supply agreement for TECH
PERTH (miningweekly.com) – ASX-listed Queensland Pacific Metals has inked a binding ore supply agreement with New Caledonian mining company Maï Kouaoua Mines (MKM) for up to 300 000 t/y of limonite ore over a ten-year term, starting in 2024.
The limonite ore would have specifications of 1.6% nickel and 0.18% cobalt.
“I am pleased to enter into this agreement with MKM. We look forward to working with them and the other New Caledonian mining companies to maximise clean ore supply. We now have agreements with four mining companies in New Caledonia, strengthening our ties to the country and increasing our security of ore supply,” said Queensland Pacific MD Dr Stephen Grocott.
To date, Queensland Pacific has contracted up to 2.1-million tonnes of nickel ore for its Townsville Energy Chemicals Hub (TECH) base metals project, in Queensland, providing it with security to meet the nameplate capacity requirements of 1.6-million tonnes a year.
The Stage 1 TECH project is based on a nameplate capacity of 1.05-million tonnes a year throughput rate, with a ramp-up time of 2.25 years and a design life of 30 years. The Stage 1 project will produce 15 992 t/y of nickel sulfate, 1 746 t/y of cobalt sulfate, 607 395 t of hematite pellets, 4 000 t/y of aluminium, and 28 856 t of magnesium oxide.
The advanced feasibility study estimates that the project will require a capital investment of A$2.1-billion, with the Stage 1 operation to have a post-tax net present value of A$1.6-billion and an internal rate of return of 15%.
The study estimates that the project will generate average revenue of $1.06-billion, at an operating cost of $515-million, and earnings before interest, taxes, depreciation and amortisation of $546-million.
Comments
Research Reports
Latest Multimedia
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
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
