Montezuma Mining Company Ltd. (ASX:MZM) announced that it has initiated a scoping study on manganese production at its Butcherbird project. The goal is to assess potential development options and provide guidance on capital and operating costs.
As quoted in the press release:
In late 2017, Montezuma Mining Company Ltd. advised that test work on the hydrometallurgical processing of ores from the Butcherbird Manganese Project had exceeded expectations and achieved the required specification to produce high purity manganese products. An internal review of the potential for the project to produce a range of high value manganese products on a commercial scale has triggered the decision to immediately commence a Scoping Study. The Study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.
In the event that a successful Scoping Study is delivered, a decision to proceed to a Preliminary Feasibility Study will be considered by the Company. It is the Company’s intention to expedite this process to take advantage of strong market conditions around commodity markets and more specifically in relation to those metals required for Lithium Ion battery production which includes high purity manganese.
To expedite the initial study phase, the Company has appointed experienced mining consultant Mr Ian Huitson to manage the Scoping Study. Mr Huitson has a Mining Engineering degree and is currently consulting to the mining industry based in Perth and has over thirty years experience in the mining industry working in operations and project development.
Justin Brown, executive director, commented:
The low cost chemical processes required to process our ore have been established and we are excited to now move into the commercial assessment phase to show the market the real potential that this project offers.