Clean TeQ Holdings Limited provide an update on the progress the Company is making toward development of the Clean TeQ Sunrise Project (Project), one of the world’s largest undeveloped cobalt resources outside Africa.
Definitive Feasibility Study Update
The Company’s technical team is making excellent progress toward completion of the Definitive Feasibility Study (DFS) for the Clean TeQ Sunrise Project, which remains on track for delivery in June 2018.
The Company is working to deliver a DFS which captures and reflects significant value from increasing metal production and building flexibility in the process plant to respond to stronger metal prices. This follows extensive optimisation work on the Pre-Feasibility Study completed in 2016, and the subsequent resource update announced on 9 October 2017.
To enable this increase in production rates, the DFS is assessing the following changes to the Project design criteria and scope:
- Increasing the nameplate capacity of the refinery to 7ktpa cobalt and 25ktpa nickel to maximise production optionality;
- Incorporating improved operating flexibility into the resin-in-pulp circuit;
- Enhancing systems and automation to allow for improved remote operability; and
- Accessing supplemental power from the grid via a tie-line in place of a gas pipeline.
As announced on 23 February 2017, these changes to scope will have an impact on the capital cost estimate. However, higher revenue from increased metal production and stronger price outlook is expected to offset any larger investment in capacity.
As part of the work being conducted for the DFS, Clean TeQ’s technical team has continued to work on optimizing the process flowsheet. This work continues to confirm that Clean iX® ion exchange technology will provide substantial operating and capital cost savings while producing battery grade nickel and cobalt sulphate products at site.
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