Elementos Ltd (ASX:ELT, OTC:ELTLF)’s Spanish subsidiary Minas de Estaño de España SL (MESPA) has executed several key contracts to support delivery of the definitive feasibility study (DFS) for the Oropesa Tin Project.
To deliver the DFS, the company has appointed Wave Europe BV as the owner’s engineer to oversee, integrate and author the Oropesa Tin Project DFS Report.
In addition, Geociencia y Exploraciones Maritimas SL (GEM) has been contracted to finalise the development of the tailings dam and waste dump design while Norvento Ingenieria SLU has been contracted to develop the engineering for power connections to the local power grid.
The Oropesa DFS in conjunction with the Spanish regulatory approvals process is on track to be delivered during the March quarter of 2023.
“Highly executable strategy”
Elementos managing director Joe David said the new project contracts reflected significant progress of the DFS at the Oropesa Tin Project, which represented one of the world’s few undeveloped tin deposits that can be mined as an open pit.
“Our vision to deliver the Oropesa Project and deliver tin into a forecast market deficit from 2025 is developing strongly.
“The expertise and experience of our partners in combination with the continued dedicated work of the Elementos and MESPA team will ensure the delivery of not only the DFS but a highly executable strategy for project delivery and operations.”
Wave already integrated
Wave is an Australian-owned specialist engineering and project delivery entity with a specific focus on critical minerals and European project development.
The owner’s engineer will provide study management services, discipline-specific expert owners engineers, capital and operating cost estimating, financial modelling services, DFS author and general study support.
Wave has already integrated into the Oropesa Tin Project working team made up of Elementos and MESPA employees, Spanish project managers Soluciones Concentradores y Procesos De Ingeneria (SCYPI) and other discipline-specific consultants.
David said Wave’s appointment followed several months of working together during which time Wave had distinguished itself.
“Our integrated team has some significant study milestones to achieve in the next 10 months which we are more than confident of achieving with Wave’s support,”
“As a global company, Wave’s Brisbane and European-based study teams align well with Elementos’ Brisbane and Spanish working teams.
“Wave currently has a large portfolio of critical minerals projects through the EU and the UK approaching financial close, whereby wave is heavily involved in both the technical and final financing activities.
“This is in alignment with Elementos’ project objectives within the EU.”
Oropesa Tin Project
Oropesa is one of the world’s largest undeveloped, open-cut mineable tin deposits, with access to world-class infrastructure and represents a near-term development and cash flow opportunity for Elementos.
The company’s optimisation study for Oropesa has confirmed a robust case for upgrading the project scale to a 1.25 million tonnes per annum run of mine (ROM) rate, with average annual contained tin production projected at 3,350 tonnes per annum.
Elementos plans to undertake a definitive feasibility study (DFS) and finalise environmental permitting as its next steps in developing Oropesa.