Location of Critical Element’s 100% owned Rose lithium-tantalum project. (Credit: Critical Elements)
QUEBEC – Critical Elements Corp. of Montreal has a positive feasibility study for its Rose lithium-tantalum project in the James Bay region. The study suggests average annual production of 186,327 tonnes of chemical grade lithium concentrate and an additional 50,205 tonnes of technical grade concentrate. In addition, the project is expected to produce 429 tonnes of tantalum concentrate annually.
The Rose project has an after tax net present value of $726 million (8% discount) and an after-tax internal rate of return of 34.9%. The base case used these price assumptions (U.S. dollars) $1,500/tonne for technical grade lithium conc, $750/tonne for chemical grade lithium conc, and $130/kg for tantalum pentoxide.
Critical Elements estimates the pre-production capex to be $341.2 million before working capital and a construction period of 21 months. A conventional truck and shovel open pit and milling process is planned. Construction could start in Q4 2018 and production in Q3 2020. The life of the mine will be 17 years.
Read the feasibility study at www.CEcorp.ca.