Colonial Coal floats PEA for Gordon Creek mine
Vancouver-based Colonial Coal International (TSX-V: CAD) has received the preliminary economic assessment for its 100% owned Gordon Creek metallurgical coal project located about 30 km south of Tumbler Ridge. Prepared by Stantec Consulting Services, the PEA demonstrates positive economics.
The Gordon Creek project has an after tax and royalty net present value of $690.5 million with a 7.5% discount rate. The internal rate of return will be 24.4% based on a price of $164.8 per tonne coking coal and a premium pulverized coal injection (PCI) price of $140.5 per tonne.
The project has a pre-production capex of $300 million with additional sustaining capital of $406.0 million over the life of the mine. When the project reaches commercial production, it will produce an average of 1.9 million tonnes of clean coal annually. The payback period is less than three years.
Colonial says the PEA is based on an underground mine plan that would recover 111.6 million run-of-mine tonnes with a yield of 51% to produce 57.4 million tonnes of clean coal over a 30-year life for the mine. The property contains an inferred resource of 298.0 million tonnes.
source: MINING.COM
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
