Highfield recalculates Muga costs 

EMR Capital-backed Highfield Resources has taken a fresh look at the 2015 scoping study it conducted over its flagship but much-delayed Muga potash project in northern Spain, based on its revised mining plan, and the project still stacks up, if it is now more slightly expensive to develop. 

Highfield recalculates Muga costs  Highfield recalculates Muga costs  Highfield recalculates Muga costs  Highfield recalculates Muga costs  Highfield recalculates Muga costs 

Muga

Based on the revised, two-phase mine plan, Highfield still expects the project to be highly commercial over almost 30 years and has Muga positioned as potentially one of the highest margin potash mines globally.
 
Muriate of potash production would be developed over an initial 500,000 tonne per annum phase, with second phase to expand production to 1Mtpa.
 
Phase one has an estimated capital cost of €342 million (A$556 million), excluding the €23 million spent to date, with phase two costing an additional €199 million.
 
The 2015 scoping study suggested capital costs at US$354 million (€306 million) plus €110 million for an associated K62 plant with a net present value of...

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