공시 • Jun 16
Resouro Strategic Metals Inc. Completes Preliminary Economic Assessment for Tiros Rare Earths and Titanium Project
Resouro Strategic Metals Inc. has completed a Preliminary Economic Assessment (PEA) for a starter operation at its flagship Tiros Rare Earths and Titanium Project in Minas Gerais, Brazil. The PEA was prepared by a team led by Norda Stelo according to National Instrument 43-101 Standards of Disclosure for Mineral Projects. The PEA indicates an after-tax net present value (NPV) of USD 714.9 million using an 8% nominal discount rate and an after-tax internal rate of return (IRR) of 44.2%. The proposed operation contemplates annual processing throughput of 500,000 tonnes per annum over an initial mine life of 20 years for a total run of mine feed of 9.5 million tonnes of high grade at 26.3% TiO2, 10,832 ppm total rare earth oxides (TREO), and 2.7 strip ratio. Operation targets a high-grade area of mineralization that makes up less than 1% of the previously announced 1.4 billion tonne Measured and Indicated Resource. Significant expansion potential is supported by a very large titanium and rare earth mineral resource. Simple open-pit mining with free digging near-surface mineralisation is proposed. The processing flowsheet incorporates grinding and sizing beneficiation, calcination, magnetic separation/electrostatic separation and gravity separation, acid leach, sulphation/water leach, hydrolyzation, precipitation, and solid liquid separation. The overall recovery of titanium dioxide is 68.7% (recovered to two products: coarse TiO2 and fine TiO2) and the recovery of the rare earth elements to a mixed rare earth carbonate (MREC) product is 67%. Dual-revenue model is based on titanium dioxide and rare earth product streams. Environmentally conscious design is assumed, with dry-stack tailings. The PEA estimates initial capital of approximately USD 191 million, sustaining capital of approximately USD 59 million, and average annual operating costs of approximately USD 109 million, equivalent to approximately USD 219 per tonne of run of mine material processed. The Tiros Project hosts a large-scale titanium dioxide and rare earth resource within the Capacete Formation, comprising Measured and Indicated: 1.4 billion tonnes grading 12% TiO2, 4,000 ppm TREO, and 1,100 ppm MREO; Inferred: 500 million tonnes grading 12% TiO2, 3,700 ppm TREO, and 1,000 ppm MREO; High-grade domain: 103 million tonnes grading 23% TiO2, 9,100 ppm TREO, and 2,400 ppm MREO. The operation targets a 9.5 million tonne high grade area of mineralization that grades 26.3% TiO2 and 10,852 ppm TREO, which accounts for less than 1% of the 1.4 billion tonne Measured and Indicated Resource. The mine plan used for this PEA is conceptual and is based on a simplified, flat mining sequence. The PEA assumes a proposed processing route comprising beneficiation, including crushing, grinding, screening size classification, magnetic separation, and gravity density separation; calcination at approximately 600°C to enhance magnetic removal of iron minerals; magnetic /electrostatic coarse separation, acid leaching and solid/liquid separation for recovery of coarse TiO2 concentrate; magnetic separation, acid sulphation/water leach, filtration, hydrolyzation, filtration for recovery of fine TiO2 product; acid sulphation, water leach, precipitation, and filtration for rare earth recovery: TREO is recovered from the leach liquor as a REE precipitate product (mixed rare earth carbonate). Final products are expected to include coarse TiO2 anatase concentrate (calculated grade 84.7% TiO2, -300 /+75 micron, from METSIM model), fine TiO2 product concentrate (calculated grade 57.9% TiO2, -20 micron, from METSIM model), and REE concentrate as a Mixed Rare Earth Carbonate (MREC). The PEA targets only 9.5 million tonnes over 20 years, representing about 0.7% of the 1.4 billion tonnes Measured and Indicated Mineral Resource. The PEA is based on a Class 5 level capital and operating cost estimate appropriate for a preliminary economic assessment. Operating costs are primarily driven by reagent consumption, energy, mining, stockpile management, personnel, and maintenance. The capital and operating cost estimates have been prepared based on current PEA-level engineering, process assumptions, and supplier /consultant inputs. The PEA is preliminary in nature. There is no certainty of economic viability or that the Tiros Project envisioned by the PEA will be realized. Future studies (Prefeasibility Studies and Feasibility Studies) may yield material changes. The PEA is based on the material assumptions highlighted throughout this announcement. To achieve the potential project development outcomes indicated in the PEA, CAPEX of approximately USD 159 million and USD 32 million of contingency is needed. The Mineral Resources underpinning the production target in the PEA have been prepared by a competent person in accordance with the requirements of the JORC 2012. The PEA evaluates the development of a 500,000 tonnes per annum processing operation targeting mineralisation within the previously announced 1.4 billion tonnes Measured and Indicated Resource in the Capacete Formation in Northern Minas Gerais State, Brazil. The PEA is based on the TREO-TiO2 resource base and incorporates a flowsheet integrating beneficiation, calcination, magnetic and electrostatic separation, acid leaching, and rare earth recovery, producing both titanium dioxide concentrates and rare earth products. The PEA scenario starts with a high-grade initial operation based on a staged development approach that has been designed to reduce upfront capital requirements, reduce development and execution risk, shorten the pathway toward production, generate operational cash flow to support future growth, and preserve significant resource optionality for future expansion. The PEA technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.