R/€ = 15.62 Change: 0.02
R/$ = 13.93 Change: 0.01
Au 1424.08 $/oz Change: -15.08
Pt 845.11 $/oz Change: -10.33
 
 
R/€ = 15.62 Change: 0.02
R/$ = 13.93 Change: 0.01
Au 1424.08 $/oz Change: -15.08
Pt 845.11 $/oz Change: -10.33
 
 
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Greenland optimises Kvanefjeld economics

15th May 2019 BY: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – An optimised feasibility study into the Kvanefjeld rare earths project, in Greenland, has estimated a $31-million increase in annual revenue, at current rare-earth prices.

ASX-listed Greenland Minerals on Wednesday reported that the optimised study had estimated an 8% increase in rare-earth recoveries, to 94% within the refinery circuit, compared with the original feasibility study calculations in 2016.

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The increased recoveries will result in the production of 32 000 t/y of rare-earth oxide, at a processing rate of three-million tonnes a year.

The optimised study also estimated a 40% reduction in operating costs of $252.1-million a year estimated in the original feasibility study, while unit costs have been reduced to around $4/kg of rare-earth oxide, compared with the $11.18/kg estimated in 2016.

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“Recoveries and operating costs have now been finalised for the optimised Kvanefjeld feasibility study, and the results are exceptional. The low operating costs reflect the large output and simple, highly-efficient processing that are key project advantages,” said Greenland MD John Mair.

“Substantial improvements to flotation performance result in a higher-grade, lower volume mineral concentrate, reducing the scale of the refinery circuit. This is complemented by further simplifications to the refinery circuit, reduced reagent consumption, and improved rare-earth recoveries.”

Mair noted that the outcomes positioned Kvanefjeld as one of the lowest-cost, highest margin undeveloped rare earth projects globally.

“The case continues to strengthen for Kvanefjeld to be developed as a major supplier of magnet metals critical to the electrification of transport systems, wind energy and green technologies.”

Based on the current 108-million-tonne ore reserve, Kvanefjeld could have an initial mine life of some 37 years. The current ore reserve accounted for only 11% of the project’s mineral resource estimate. 

EDITED BY: Creamer Media Reporter
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