The Weekly Advertiser

Sand-mining project moves to next stage

Community to hear about $500m plans

By DEAN LAWSON

Results of a study into the commercial viability of a proposed long-life mineral sand-mining operation near Horsham have given the project momentum.

Australian Zircon has completed a ‘successful’ Bankable Feasibility Study into tapping into vast reserves of mineral deposits known as the WIM150 Project and has now moved to the next planning phase.

The Bankable Feasibility Study, based on a broad range of technical and financial factors, has provided an outline of the project’s commercial viability. It forms the basis of what the company can now present to potential project financiers and supports Australian Zircon’s confidence in the site’s ability to produce world-class zircon, titanium and other minerals.

Australian Zircon’s WIM150 project development manager Emma Vogel, based in the Wimmera, said the study represented a significant project milestone.

“We finalised the study in late July and it was highly successful. In short, it showed that the target ore reserve based on our current production rate would produce around 60 years worth of mining,” she said.

“And that doesn’t include the entire resource base which might have the potential to extend the mine life considerably further.

“The longevity of mining operations and relative ease of accessibility to the ore has placed the project in a globally competitive position to attract the capital it needs to start, which would be somewhere in vicinity of $500-million.

“We are in a very robust position to move forward.”

Project value

Ms Vogel said Australian Zircon would now work on completing an Environment Effects Statement and project optimisation to further increase project value.

She said Australian Zircon, after assessing community and authority feedback and internal technical and economic evaluations, would also outline ‘significant’ project changes at community information sessions.

“We will outline details at the sessions during November. The changes are based on the proximity of key project infrastructure to the Grampians National Park,” she said.

 

Short URL: http://www.theweeklyadvertiser.com.au/?p=17567

Posted on Oct 31 2013

Posted by on Oct 31 2013. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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