Canadian Mining Journal


NICKEL-COBALT: RNC says Dumont feasibility is positive

High grade core from the Dumont nickel-cobalt project in Quebec. (Image: RNC Minerals)

QUEBEC – Toronto-based RNC Minerals has completed an update to the 2013 feasibility study for the Dumont nickel-cobalt property 25 km west of Amos. Dumont is a large scale (33,000 tonnes of concentrate annually), low cost (initial capex of $1 billion (all U.S. dollars) and all-in sustaining costs of $3.80 per lb. payable nickel), and long life (30 years).

The Dumont project is fully permitted and carries an after tax net present value (8% discount) of $920 million and a 15.4% after tax internal rate of return. Free cash flow should average $201 million annually over the life of the project.

RNC says this is the second largest contained nickel reserve in the world (6.1 billion lb.) and ninth largest contained cobalt reserve (243 million lb.). Once in production, it will be among the top five sulphide operations globally and the third largest Canadian base metal asset.

Dumont will be an open pit with concentrator. The mill will be built in two phases – 52,500 t/d with a single SAG mill. Phase two will double the throughput by mirroring original facilities. Conventional drilling and blasting will be employed, and autonomous haulage will be practiced.

The deposit has proven and probable reserves of 1.0 billion tonnes averaging 0.27% nickel and 107 ppm cobalt. That equates to 6.1 million lb. of contained nickel and 243.0 million lb. of contained cobalt.

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The Dumont project is owned 72% by Waterton Global Resource Management and 28% by RNC who is the operator.