Mt. Hope Project - Mine Plan
Mining Plan - The Mount Hope deposit will be mined utilizing conventional open pit methods. First ore is scheduled to the mill in late 2010. High grade material from the mine is processed in a mill at an average rate of approximately 60,000 tons per day. Lower grade material will be stockpiled and processed in years 32 through 44, once mining activities have ceased. In the first 5 years of operation the mine will produce approximately 38.3 million pounds of molybdenum annually at a total production/operation cash cost of US$4.42/ pound.
• Molybdenum production of 38.3 million pounds annually over the first five years; • Direct operating costs of $4.42 per pound over the first five years; • Average grades of 0.100% molybdenum processed over the first five years; • 1.3 billion pounds contained molybdenum within Proven and Probable reserves; and a • 44 year mine life including 32 years of mining operations and 12 years of low-grade production. |
Ore Processing - Processing includes a conventional crushing, grinding and flotation circuit, producing a molybdenum concentrate. Thickeners and filters will dewater these concentrates to produce a filter cake for further processing in a multi-hearth roaster to produce a final (TMO) technical grade molybdenum oxide product. Recovery in the mill is expected to be 85.8% life of mine (higher recoveries at higher grades) and recoveries in the roaster circuit is expected to be 99.2% life of mine.
( View Processing Flow Sheet )
Project Permitting - The permitting process for Mt. Hope is well underway. The Company filed the Mt. Hope “Plan of Operations” with the Bureau of Land Management (BLM - Nevada) in June of 2006, which was determined to be complete in October of 2006. The Company has been doing a number of baseline studies in preparation for the environmental impact statement (EIS), which is expected to be completed in mid-2009. The Company is also completing a number of technical studies including the detailed plan for placement of overburden and mill tailings, additional environmental studies which include the socio-economic effects of the project and ground-water hydrology and geochemistry studies.
Products & End Markets Regions - The final end-market product will be (TMO) technical grade molybdenum oxide, the most widely traded molybdenum product worldwide. The steel industry is the primary consumer of molybdenum products and will be the primary target market for Mt. Hope TMO. The Company may also consider converting its product into Ferro Molybdenum (FeMo), which is also utilized by the steel industry. ( Read More about Molybdenum )
