|To: LoneClone who wrote (68463)||10/10/2010 9:31:53 PM|
|From: LoneClone||Read Replies (1) | Respond to of 100827|
|Groote Resources moves closer to assessing mining and shipping options at Groote Eylandt manganese project|
by Proactive Investors
Manganese explorer Groote Resources (ASX: GOT) has awarded Bateman Engineering a complete scoping study contract for the wholly owned Groote Eylandt manganese project in the Northern Territory, moving the company one step closer to assessing mining and shipping options.
Groote was recently granted exploration licences for four shallow marine tenements immediately adjacent to GEMCO’s, BHP Billiton (ASX: BHP)(60%) and Anglo American Corporation (LON: AAL)(40%) worldclass manganese mine.
Simon Noon, executive director, said “commissioning of the scoping study is an important step for the company as it will further test the robustness of our assumptions and mine design plans."
"Importantly, it will help support our aim to ensure maximum value from the Groote Eylandt Project is achieved for our shareholders.”
The study will evaluate mining, processing and shipping options for the project, including environmental impacts and mitigation options for each component will be evaluated for the proposed life-of-mine.
The study will review capital and operating expenditure estimates, examine energy, emissions and water use options, and identify areas available for plant and infrastructure construction, to be based on a resource of approximately 100MT+ (reserve around 70MT+ @30-45% Mn grade) with a mine life of 15-20 years at a notional production rate of 3-5MT per annum.
A completed study is expected by late December.
Groote said it has held an initial consultation meeting in September 2010 with representatives of the Anindilyakwa people, the traditional owners of Groote Eylandt.