Blackstone Minerals

Ta Khoa Project Development Update

Blackstone continues to build relationships with key technology and off-take partners through alignment of Ta Khoa Project development strategy and execution schedule.

Blackstone Minerals Limited ("Blackstone" or the "Company") is pleased to advise that the Ta Khoa Project development shall be accelerated following strategy meetings with prospective technology and off-take partners (“the Partners”). The accelerated strategy will be achieved through the following critical activities:

1. Partnerships: engagement with the Partners to reach a final JV structure and investment contribution.

2. Staged development: supported by Wood, evaluation of staged development options, including a start-up scenario which would limit upfront capital, and improve the development schedule.

3. Infrastructure: review of key project infrastructure and its impact on feed stock and product logistics, in collaboration with community stakeholders.

4. Prioritisation: reduction in monthly spend to focus on flowsheet test work, piloting, permitting and approvals. Non-schedule critical items will be delayed to conserve funding.

Partnerships

The Ta Khoa Project (“TKP”) development strategy was discussed at length during a recent Ban Phuc Nickel Mine (“BPNM”) and Ta Khoa Refinery (“TKR”) site visit which included representatives from prospective partners. The purpose of the visit was to inspect the existing BPNM operation, the proposed TKR site, as well as discussions pertaining to project partnership structures, investment strategy and development timelines

The site visit concluded with formal meetings with various government representatives including the Vice Chairman and Senior Officers of the Son La Peoples’ Committee (“SLPC”), the Director of the Department of the Son La Natural Resources and Environment (“DONRE”), and Vice Director of the Son La Department of Industry and Trade (“DOIT”), as well as representatives from the Australian embassy. Representatives of Korean Development Bank (“KDB”) attended to present outcomes of financing discussions, including options for obtaining export credit agency support.

Blackstone and its prospective partners agreed to continue working towards a binding partnership agreement targeting execution by the end of the year.

Staged Development

With assistance from Wood, Blackstone are exploring staged development options to minimise the TKR upfront capital and identify the shortest pathway to project cashflows. The TKR Definitive Feasibility Study (“DFS”) process design and flowsheet optimisation is complete, which allows Blackstone to quickly assess multiple development options and identify preferred scenarios for further development. A key development of the process design is that the TKR is feedstock agnostic. Not only will it be able to accept a range of nickel concentrate specifications, but it will also be able to accept nickel matte and Mixed Hydroxide Precipitate (“MHP”), so long as the feed sources meet Blackstone’s ESG standards. This greatly improves Blackstone’s ability to source and secure third-party feed and has opened up additional development scenarios for TKR. Some staged development options under consideration include:

  • Early operation of the existing Ban Phuc concentrator to treat Massive Sulfide Vein (“MSV”) ore from Ban Chang and King Snake to produce a saleable concentrate
  • TKR start-up on 100% third-party feed sources including concentrate, matte and MHP, with the Ta Khoa Nickel mine (“TKN”) to be funded out of operating cashflow
  • Reduced size refinery start up, with subsequent expansion(s) funded out of operating cashflow

Infrastructure

Logistics and infrastructure reviews have commenced to confirm project footprint requirements that mitigate key risks. The DFS process design has identified potential to separate infrastructure for production of precursor Cathode Active Material (“pCAM”) from the remaining refinery infrastructure, which allows Blackstone to consider location of the pCAM facility closer to port and customer infrastructure.

Prioritisation

Blackstone will be prioritising all activity to focus on schedule critical path items while limiting spend in this current market environment. Progress on partnerships, permitting, metallurgical testwork and piloting will continue but other non-time critical activities will be assessed in relation to the overall project development strategy.

Permitting Update

Vietnam’s Ministry of Natural Resources and Environment (“MONRE”) has extended the BPNM Mining Licence until December 2025. In addition, Blackstone has commenced the process to convert the Ta Khoa Exploration Licence area consisting of 35km2 which contains the Ban Phuc Disseminated Sulfide (“DSS”) Probable Reserve (48.7Mt at 0.43% Ni, and 210kt of contained nickel1) to an open pit Mining Licence covering 7.6 km2.

Click here for the full ASX Release

This article includes content from Blackstone Minerals Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BSX:AU
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blackstone Minerals

Blackstone Minerals


Keep reading...Show less

Promising new source of low-carbon, battery-grade nickel

Blackstone Minerals - Investor Presentation - February 2025

Blackstone Minerals - Investor Presentation - February 2025

Blackstone Minerals (BSX:AU) has announced Blackstone Minerals - Investor Presentation - February 2025

Download the PDF here.

Drill core samples in box.

Top 5 Canadian Mining Stocks This Week: Noble Mineral Exploration Gains 114 Percent on Nickel Assays

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

This week, the US Bureau of Labor Statistics released key inflation data, including its consumer and producer price index data on Wednesday (March 12) and Thursday (March 13). The reports show all items inflation was up 2.8 percent year-over-year in February, while core inflation — all items minus food and energy — was up 3.1 percent over that period. Both rose by 0.2 percent compared to January.

The numbers show that inflation has largely become stuck and is still far from the 2 percent target rate set by the US Federal Reserve. The data provides further insight into the health of the overall economy ahead of the Federal Open Market Committee meeting next week. The consensus among analysts is the Fed will choose to maintain its benchmark rate at 4.25 to 5 percent.

Keep reading...Show less
Cobalt, nickel and copper on periodic table.

Chalice Mining Makes Metallurgical "Breakthrough" at Gonneville Project

Chalice Mining ( ASX:CHN,OTC Pink:CGMLF) said on Monday (February 17) that it has made an important metallurgical breakthrough at its Gonneville projected, located in Western Australia.

The company said a hydrometallurgical process for nickel concentrate is no longer needed, as recent testwork results confirm that two saleable, smelter-grade flotation concentrates can be produced across the entire sulphide resource.

Managing Director and CEO Alex Dorsch said in a press release that this new information "materially reduces" capital and operating costs for Gonneville, also substantially reducing technical risk and process complexity.

Keep reading...Show less
"Anglo American" written on a phone screen with the words "buy" and "sell" behind it.

Anglo American to Sell Nickel Business to MMG for Up to US$500 Million

Anglo American (LSE:AAL,OTCQX:AAUKF) has agreed to sell its Brazil nickel operations to MMG Singapore Resources, a subsidiary of MMG (OTC Pink:MMLTF,HKEX:1208), for a cash consideration of up to US$500 million.

According to a Tuesday (February 18) press release, the transaction includes Anglo American’s Barro Alto and Codemin ferronickel operations, along with two development projects, Jacaré and Morro Sem Boné.

The purchase price comprises an upfront payment of US$350 million, a potential price-linked earnout of up to US$100 million and a further US$50 million contingent on a final investment decision for the development projects.

Keep reading...Show less
A small pile of nickel.

Nornickel's Net Profit Dips 37 Percent as Western Sanctions and Market Hurdles Persist

Moscow-based miner Norilsk Nickel (Nornickel) reported a 37 percent decline in net profit for 2024, citing ongoing western sanctions and lower metal prices as primary factors affecting its financial performance.

According to the company’s 2024 financial results, consolidated revenue fell 13 percent year-on-year to US$12.5 billion. EBITDA was down 25 percent to US$5.2 billion, with net profit dropping 37 percent to US$1.8 billion.

Company President Vladimir Potanin said that geopolitical restrictions, reduced access to western equipment and shifting trade patterns have negatively impacted the company’s ability to generate cashflow.

Keep reading...Show less
Blackstone Minerals Managing Director Scott Williamson.

Blackstone Minerals Expands Portfolio with Mankayan Copper-Gold Project Acquisition

In a strategic move that marks a significant expansion beyond the company's nickel-mining operations, Blackstone Minerals (ASX:BSX,OTC Pink:BLSTF,FWB:B9S) has announced a merger of equals with IDM International to acquire the Mankayan copper-gold project in the Philippines.

This acquisition positions Blackstone to leverage its expertise in the evolving mining landscape, driven by energy transition requirements, according to Blackstone Managing Director Scott Williamson.

"We can leverage (the) experience that we have from operating in Vietnam, which is a similar jurisdiction. We've operated in Vietnam for the last five or six years; we've been focused on nickel in Vietnam. Now we can use that team and our expertise in developing mines in Vietnam to the Mankayan project in the Philippines," he explained.

The Mankayan project is renowned for its high-grade copper and gold potential, supported by impressive historical drill results. Williamson emphasized the project's significance, indicating the potential for a substantial resource expansion.

Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×