Frieda expected to last 18yrs

THE initial mine life of the Frieda River project in West Sepik is estimated to be around 18 years, according to PanAust Limited.
The company noted this in a recent announcement following a feasibility study for the copper-gold project carried out last year.
According to PanAust, the initial mine life would have 714 million tonnes (Mt) of mill feed that includes 686 million tonnes of ore reserves.
The pre-production capital cost is estimated at US$3.6 billion (K11.8 billion).
The project configuration, as described in supporting documentation submitted with application for a special mining lease and in the environmental impact statement, is largely unchanged.
However, the economic value and risk profile for the project has been materially improved as a result of the updated mineral resource estimate, revised open-pit designs and optimised mine production schedule.
The pre-production capital cost will equate to a pre-production capital intensity of US$17,000 (K55,760) /t of copper equivalent in concentrate production.
As per report from the feasibility study, there is an increase in ore reserves in the project.
Data and technical analysis from last year’s geological, geotechnical and metallurgical field programme for Ekwai and Koki deposits had been incorporated into a feasibility study addendum.
It was not available at the time of the feasibility study completion in May 2016 and subsequent lodgment of special mining lease application for the project last year.
The addendum confirmed the feasibility of an initial project based on the HITEK (Horse-Ivaal-Trukai-Ekwai-Koki) copper-gold porphyry deposits and comprising a large-scale, open-pit mining operation that supplies a conventional process plant with a nominal capacity of 40 million tonnes per annum (Mtpa).
The Frieda River project in West Sepik is said to represent one of the largest undeveloped copper-gold deposits in the world.