Metals X confirms promising reserve, economics from Area 5 at Renison tin project
2020-06-19 08:30:25 [Print]
Australia's largest tin producer, Metals X Limited, on Wednesday published results of its Area 5 mining optimization study and an updated mine plan for the Renison tin operation, in Tasmania
The study was commissioned in August 2019 to determine the optimal development strategy for Area 5, as a starting point for the Renison project.
The study determined that Renison now has a 3.3 million tons ore reserve grading 1 . 87% tin, for 61,900t of contained tin in area 5 . The total Renison ore reserve has increased by 46% to 120,300t of contained tin . The mine life of the Renison project has been extended to ten years.
Production from the high-grade Area 5 will contribute 40% of total contained tin mined over the ten-year mine life. The company intends to mine between 8,500tpy and 9,000tpy of tin in the first two years of operation, followed by mining 10,000tpy thereafter . Metals X estimates that it can produce a total 98,000t of tin in concentrate over the mine life.
Area 5 requires about $50-million in capital expenditure, for ventilation, backfill, electrical and pumping infrastructure, as well as additional mobile equipment.
The company is now focusing on detailed mine design, engineering and execution planning for the Area 5 project, as well as continued metallurgical and margin improvement.
. Renison is 50% owned by Metals X through the Bluestone Mines Tasmania joint venture (JV).The study was commissioned in August 2019 to determine the optimal development strategy for Area 5, as a starting point for the Renison project.
The study determined that Renison now has a 3.3 million tons ore reserve grading 1 . 87% tin, for 61,900t of contained tin in area 5 . The total Renison ore reserve has increased by 46% to 120,300t of contained tin . The mine life of the Renison project has been extended to ten years.
Production from the high-grade Area 5 will contribute 40% of total contained tin mined over the ten-year mine life. The company intends to mine between 8,500tpy and 9,000tpy of tin in the first two years of operation, followed by mining 10,000tpy thereafter . Metals X estimates that it can produce a total 98,000t of tin in concentrate over the mine life.
Area 5 requires about $50-million in capital expenditure, for ventilation, backfill, electrical and pumping infrastructure, as well as additional mobile equipment.
The company is now focusing on detailed mine design, engineering and execution planning for the Area 5 project, as well as continued metallurgical and margin improvement.