Name of the Project
Whim Creek copper/lead project.

Location
Pilbara, Western Australia.

Project Owner/s
Anax Metals (80%) and Develop Global (20%).

Project Description
A definitive feasibility study (DFS) has demonstrated Whim Creek as a technically and economically sound polymetallic project and strategic processing hub development in the Pilbara.

The project has ore reserves of 4.55-million tonnes at 1.36% copper, 2.30% zinc and 0.68% lead, supporting average concentrate production of about 55 000 t/y (containing copper, zinc, lead) over the eight-year life of the project from openpittable resources at Mons Cupri and Whim Creek, and underground resources that are open at depth at Evelyn and Salt Creek.

The DFS incorporates openpit and underground mining, and the development of a processing hub at the existing infrastructure site.

Contractor mining will be used for both mines.

Existing site infrastructure will be used to develop an expandable processing hub capable of treating sulphide, transitional and oxide ore types. The processing infrastructure will include a state-of-the-art, two-stage ore-sorting and gravity separation plant, followed by a modular flotation plant configured for complex polymetallic ores. Existing heap-leach infrastructure will be used for ore storage and bioleaching. Importantly, tailings will be stored in mined-out pits.

Potential Job Creation
None stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 7% discount rate, of $224-million and an internal rate of return of 54%, based on forecast metal prices, exchange rates, capital and operating costs, with a payback of 21 months.

Capital Expenditure
Preproduction capital expenditure is estimated at $71-million.

Latest Developments
Project approvals and permitting activities continue to be a focus and are at an advanced stage, with final approvals expected in the second half 2023.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Anax Metals, tel +61 8 6143 1840 or email info@anaxmetals.com.au.