Ridge Mining reports an independant feasibility study has been completed on the Sheba's Ridge Nickel/PGM Project located in South Africa. Based on the results the company intends to progress the Project to the next stage through commissioning of a bankable feasibility study into new shared independent smelting facilities in South Africa. The study confirmed the Project to have an ore reserve containing 740,000 tonnes of nickel (1.6bn lbs), 290,000 tonnes copper (630m lbs) and 10.7 million ounces of PGE's, and that it will rank as one of the largest projects of its type in Africa. Ridge Mining plans to extract 18 million tonnes of ore per annum over a planned mine life of 20 years.
Feasibility study completed; the study confirmed the project to have an ore reserve containing 740,000 tonnes of nickel (1.6bn lbs), 290,000 tonnes copper (630m lbs) and 10.7 million ounces of PGE and mining extraction will be at 18 million tonnes of ore per annum over a planned mine life of 20 years. The project will have a total cost of US$972 million.
January 29, 2008
The independent technical audit of the feasibility study into the Sheba’s Ridge nickel/PGM project is progressing well and remains on course for completion by the end of the first quarter 2008.
Research - Professional or Research - Advanced Subscriber Access Required
