Neometal Limited invested more than $40 million to acquire full ownership and operations of the Barrambie Titanium and Vanadium Project since 2003, one of the world’s highest-grade hard rock Titanium Vanadium deposits. A Memorandum of Understanding (MoU) was signed between Neometal Limited with China’s Jiuxing Titanium Materials, with the plan on delivering a mixed concentrate or Ilmenite from the mine to the off-taker.
Primero completed the Pre-Feasibility Study to a class 4 estimate ±25% for Neometal Limited. The processing design, assumes a simple mine, crush, mill and beneficiate (CMB) option, and involves Low Temperature Reduction Roast (LTR) of the Mixed Gravity Concentrate (MGC) and magnetic separation at a second site location to produce separate Ilmenite and Iron-Vanadium concentrate streams.
The purpose of the Pre-Feasibility Study was to develop a suitable processing route for the recovery of titanium / vanadium / magnetite into bulk concentrate from Run-of-Mine (ROM) sourced from the Barrambie deposit. The Pre-Feasibility Study scope of work required for the client was to provide American Association of Cost Engineering (AACE) capital cost estimate (CAPEX) and operating cost estimate (OPEX) to a class 4 estimate ±25% for:
- Metallurgical test work review and interpretation
- Process Design for the Crusher, Mill and Beneficiation (CMB) and Low Temperature Reduction Roast (LTR) plant
- Plant Design for the CMB and LTR plants.
The completion of the Pre-Feasibility Study shows cases of the potential economic development for Barrambie, and places Neometal Limited in a solid negotiation position with commercial off-takers. The potential to produce 500,000tpa of high-quality Ilmenite to the market is a mega milestone development for Neometal Limited, and it has opened up opportunities for different development pathways.