Melior Resources Inc. said Nov. 9 that it produced the first ilmenite and apatite at the newly constructed Goondicum ilmenite mine in Queensland, Australia, after kicking off commissioning at the site.
With wet commissioning on water done, the company said it will now focus on hiring additional operators as project commissioning and ramp-up to full capacity extends through the second quarter of 2019.
Ilmenite haulage to the port is planned to begin in January 2019, while first ilmenite shipment is scheduled for the first quarter of next year.
Melior restarted construction at Goondicum in April and has completed building the on-site components on schedule and within budget. Work will continue on various off-site infrastructure upgrades over the next few months.
An updated preliminary economic assessment for Goondicum pegged a posttax net present value, discounted at 8%, of US$46.4 million, an internal rate of return of 92% and a 1.6-year payback period.
