Cobre Ltd (ASX:CBE) has appointed metallurgical and processing advisory service METS Engineering Group to undertake a comprehensive process design scoping study for the Ngami Copper Project in Botswana.
METS will evaluate the application of In-Situ Copper Recovery (ISCR) and/or alternative extraction methods for beneficiation of the copper-silver mineralisation at Ngami, which has a conceptual exploration target of between 103 and 166 million tonnes at 0.38% to 0.46% copper.
Results, which will be used to deliver an economic assessment of the ideal extraction method, will be reported upon completion of key stages with final results expected at the end of the September quarter of 2024.
“Ideal for study”
Cobre’s chief executive officer Adam Wooldridge said: “Based on the favourable outcomes of our ongoing hydrogeological test work, we’re pleased to initiate a comprehensive scoping study to fully evaluate our proposed ISCR program at NCP.
"METS Engineering, with their impressive track record and hydrometallurgy experience, are ideal for undertaking this study which, in addition to determining the engineering feasibility, will provide the financial metrics essential for realising the project’s value."
Five-stage study
The scoping study will be undertaken in five stages:
Stage 1 Gap Analysis - to provide a high-level engineering and process assessment of the technical and economic viability of the project.
Stage 2 Optimal Mining/Extraction Method Trade-off Study - comparing and ranking the use of ISCR, underground in-stope leaching, and open pit heap leaching and identifying the optimal method/combination of methods for extraction of copper-silver at NCP.
Stage 3 Process Design Study - to further develop the optimal extraction method identified in Stage 2.
Stage 4 Scaling up and Pilot Study Design - to plan the engineering, construction and commissioning of a pilot operation.
Stage 5 Economic Study - to provide a financial model based on the outcomes of Stage 3 which will include pricing and cost assumptions, cash flow assessment, IRR, ROE and NPV calculations.
About METS
Established in 1988, METS has a trusted reputation within the global mining industry for providing a quality metallurgical and processing advisory service.
The team is a Perth-based independent specialist consulting group that has worked globally over the last 30+ years.
METS specialises in technical due diligence, advisory, review and valuation work for companies and financial institutions on mining and processing projects and has been involved in numerous independent engineer and independent technical consultant assignments and reviews in recent years.
Importantly for the NCP project, METS has a strong experience base in in-situ leaching including work on copper and uranium projects.