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All grade mining reports positive results at salitrosa iron oremine by efwegbe erergeer
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All grade mining reports positive results at salitrosa iron oremine |
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Business,Business News,Business Opportunities
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All Grade Mining a development-stage company focused on theextraction of iron ore announced positive results for thefeasibility study that the Company has completed on its SalitrosaIron Project in Chile. The purpose of the study is to determine the technical feasibilityand economic desirability of the design, manufacture, install andoperation of a plant to produce 50,000 tons/month of iron ore onthe site of its Salitrosa Project. The valuation of the processes of exploitation of this project wascarried out taking into consideration the processing of 300,000tons/month of base material for 50,000 tons/month of ironconcentrate to a grade of 63.5%. The feasibility study considersthe costs of extraction and production of iron ore, not the cost oftransfer to the ports of shipment, due to the unknown location anddistances.
The logistics of exporting iron are in the process ofbeing planned by the company, which currently has multiple options. Revenues of the project were calculated based on monthly salesprojected at the price of the concentrate ore given the law of theproduct and to the exchange rate prevailing at the date of theevaluation. The parameters that were taken into consideration atthe time of the evaluation are as follows: Sales volume - 40,000 tons per month Price of the Concentrated of Iron - USD 75 USD per ton Law of the iron ore concentrated - 63% Exchange Rate - USD 500 USD per ton Quarterly Increment in the sales - 5% Horizon of Planning of the project - 10 years With the parameters above, the study projected revenues ofapproximately $388 million over the next 10 years starting with anestimated $36 million in revenue the first year commencingproduction. Other factors that can affect revenues include theplanning horizon of the evaluation, commodity prices, financing,extraction costs and increases in production and sales.Additionally, the company intends to increase its mining productioncapacity to 150,000 tons a month within the next year. The plant is designed to operate at sites with a high content ofmagnetite and hematite in clay lick, with particle sizes betweeninput 8" and 10", so it is necessary to have two or three stagecrushing to achieve particle sizes close to 6 mm to start theprocess of magnetic selection.
The site has a law expected minimumof 35% and 40% magnetite and assuming a ratio of 6:1Sterile/Mineral (S/M) and considering a continuous period of 504monthly duty, we estimate a minimum processing horizon of 300,000tons/month of base material to produce 50,000 tons/month iron witha minimum of 63.5% law. The deposit is expected to be operated by two open pits, one toexploit the mineralization detected in the west bank, where theiron is detected in the form of magnetite mixed with hematite, andanother to remove the iron found in the eastern fringe which isMagnetite as sulfide mixed with copper mineralization andChalcopyrite. The mineralization of the middle strip will beaddressed later through the reach of primary pits. Mr Gary Kouletas CEO of All Grade Mining said "We are veryencouraged with the results of our feasibility study of Salitrosawhich highlights the existence of 40 million metric tons of ironore within the property, which would be worth USD 5.76 billion attoday's prices. The study was designed to provide an engineeringand economic assessment of the viability of this project and, morespecifically, the construction of a plant with the goal ofproducing 50,000 tons/month of iron ore and these results clearlydemonstrate the solid economics of this project." He said that "These positive results further validate ourexpectations while providing independent confirmation that theSalitrosa project will support a low-risk and economically robustiron ore mine.
With costs of production and equipment beingfinalized in the coming weeks, we are very excited to move forwardin the development and production of this property." Source - All Grade Mining. I am Meat Grinders writer, reports some information about exterior door weatherstrip , rubber sports flooring.
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