Minco Completes PEA for Woodstock EMM Project

Minco plc (LSE:MIO) announced that it has completed a preliminary economic assessment( PEA) for its Woodstock electrolytic manganese metal (EMM) project in New Brunswick, Canada.

As quoted in the press release:

The Preliminary Economic Assessment (‘PEA’) indicates a pre-tax Net Present Value (‘NPV’) of CDN$846 million at a 8% discount rate and a pre-tax Internal Rate of Return (‘IRR’) of 17.97%, based on a 3,000 tonne per day (‘tpd’) open pit mining, hydrometallurgical and electrowinning operation, with a pre-production capital expenditure of CDN$864 million and average annual payable production of approximately 80,000 tonnes of electrolytic manganese metal.

The PEA’s base case indicates a long project life of 40 years with operating costs anticipated to be the lowest in the world averaging US$0.64/lb of electrolytic manganese metal (‘EMM’) produced over the first 20 years and US$0.68/lb EMM over the life of project.

Click here to read the full Minco plc (LSE:MIO) press release.