BRITISH COLUMBIA - FORTUNE MINERALS of Toronto has received the bankable feasibility study for its wholly-owned Mount Klappan anthracite coal project, 150 km northeast of Stewart. The study covers development of an open pit at the Lost Fox deposit, one of four deposits in the project area.
The study was conducted by MARSON CANADA and examined production scenarios of 1.5 million and 3.0 million tonnes/year of 10% ash ultra-low volatile pulverized coal injection product for the overseas steel industry. The geological model and mine plans are based on reserves of 60.8 million tonnes (all categories) supporting a mine for 20 years. Capital costs would be $275 million to $522 million, depending on whether the coal is be trucked to Stewart or railed to Prince Rupert. The study includes building a wash plant at the mine.
Fortune is currently working on an environmental impact assessment of the project. The company also says it has had enquiries from "several large companies" interested in participating in the Mount Klappan project. The company's website is at www.FortuneMinerals.com.