Friday, 14 Oct 2011
A study on Beowulf Minings Ruoutevare and Kallak iron ore mines in Sweden revealed they could generate revenues of USD 9.1 billion and USD 8.4 billion respectively.
Updated economic estimates included in the report suggest that, over the first 15 years of mining, at a rate of 10 million tonnes per annum, Ruoutevare could generate gross revenues of USD 9.1 billion and Kallak could generate gross revenues of USD 8.4 billion based on an a long term high product price forecast of USD 126 FOB a tonne for iron ore concentrate from Ruoutevare and USD 132 FOB a tonne for iron ore concentrate from Kallak.
Based on management current unclassified resource estimate of 600 million tonnes for Kallak, the mine life could be up to 60 years and the forthcoming maiden independent JORC resource estimate will be utilised to complete the full updated conceptual study on Kallak in due course.
An updated conceptual economic model shows a payback period on total investment of as low as 2 years for Ruoutevare and 2.4 years for Kallak compared to the previous 2010 estimates of 3.1 years and 3.6 years respectively.
A study on Beowulf Minings Ruoutevare and Kallak iron ore mines in Sweden revealed they could generate revenues of USD 9.1 billion and USD 8.4 billion respectively.
Updated economic estimates included in the report suggest that, over the first 15 years of mining, at a rate of 10 million tonnes per annum, Ruoutevare could generate gross revenues of USD 9.1 billion and Kallak could generate gross revenues of USD 8.4 billion based on an a long term high product price forecast of USD 126 FOB a tonne for iron ore concentrate from Ruoutevare and USD 132 FOB a tonne for iron ore concentrate from Kallak.
Based on management current unclassified resource estimate of 600 million tonnes for Kallak, the mine life could be up to 60 years and the forthcoming maiden independent JORC resource estimate will be utilised to complete the full updated conceptual study on Kallak in due course.
An updated conceptual economic model shows a payback period on total investment of as low as 2 years for Ruoutevare and 2.4 years for Kallak compared to the previous 2010 estimates of 3.1 years and 3.6 years respectively.
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