The SSM project plan is to produce vanadium, titanium and iron products, along with other potential high-value specialty commodities.
READ: King River Resources achieves high vanadium-titanium extractions in Speewah metallurgical work
King River has engaged Como Engineers in Perth to compile scoping study level (±30% accuracy) capital expenditure (CAPEX) and operating expenditure (OPEX) cost estimates for the beneficiation, leach and metal recovery processing facility and the acid contact and regeneration plants required for on-site sulphuric acid production.
The study investigated two sulphuric acid leaching processing options:
• Static flooded vat leaching of coarse lump material; and
• Agitated tank leaching of a coarse concentrate.
The study has provided an early indication that the agitated tank leaching option should be the focus for future metallurgical test work and investigations.
King River is encouraged by the initial CAPEX estimate, as it has fallen within the lower range of the company's initial target of US$650-750 million for a three-commodity project (vanadium, titanium and iron).
The company has ambitions to produce at least five high purity metal products, including high purity alumina (HPA).
The OPEX is also below King River’s initial target range but it will require additional costs added (including mining, power plant operation, borefield water, tailing disposal, campsite, and product transport and sales).
Importantly, the latest study provides a clear picture for focusing on the next phases of test work and studies.
A high priority will be to reduce the acid plant capital and operating costs, including a comparative economic study based on using imported sulphuric acid.
King River is committed to examining the lowest capital and operating cost project development strategy and report a PFS towards the third quarter of 2019.