Mining Weekly reported that Elemental Minerals plans to start production at it’s Sintouloka potash project in the Republic of Congo in Q3 of 2016. The company released a prefeasibility study on Thursday.
As quoted in the market news:
Based on a production of around two-million tons a year of muriate of potash, the underground operation was expected to have a mine life of some 23 years. The project could be developed at a total capital cost of $1.85-billion, and would have a net present value of $2.9-billion, and an internal rate of return of 29.3%.
Iain Macpherson, Elemental’s CEO stated:
The prefeasibility study confirms excellent economics and highlights the project’s key competitive advantages of a high-grade orebody suited to conventional mining and processing using proven technologies.