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Pure Minerals values Townsville nickel-cobalt refinery in Queensland at A$568M

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Pure Minerals values Townsville nickel-cobalt refinery in Queensland at A$568M

Pure Minerals Ltd.'s pre-feasibility study for development of the Townsville Energy Chemicals Hub in Queensland, Australia, outlined a posttax net present value of A$568 million and a 20.1% internal rate of return.

The preproduction capital expenditure for the battery chemicals refinery was estimated at US$300 million, with a US$49 million contingency. Operating expenditure was anticipated to be A$155 million.

The project is expected to annually produce 26,398 tonnes of nickel sulfate and 3,097 tonnes of cobalt sulfate during a 30-year life of mine.

The battery chemicals refinery is estimated to generate A$279 million of revenue and A$124 million of EBITDA per year.

The company's wholly owned unit, Queensland Pacific Metals Pty. Ltd., will initiate a definitive feasibility study, advance environmental studies and approval application, and conduct pilot-scale campaigns to test the flowsheet and generate product samples for potential off-take partners.

In October, Queensland Pacific extended a nickel-cobalt ore supply agreement for the project to 10 years from five years, with an option to renew for another five years.