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Australian Mines moves $1.3bn Sconi project to next step

Australian Mines has released its bankable feasibility study (BFS) for the Sconi cobalt-nickel-scandium project in North Queensland, revealing a capital requirement of $US974 million ($1.35 billion).

The Sconi project will require the development of three open pits for $US31 million, and a two million tonnes per year (Mt/y) processing plant for $US730 million.

However, the company is confident of strong annual revenues ($512 million) over a mine life of 18 years.

Sconi will create up to 500 jobs during construction between 2019 and 2021, and an additional 300 full-time positions once reaching steady-state operation.

Australian Mines managing director Benjamin Bell said the Sconi project showed “a genuine near-term development prospect” amidst increasing demand for commodities essential for the manufacture of lithium-ion batteries for electric vehicles (EVs).

“Demand for procuring potential future production from the Sconi project has been high from multiple battery manufacturers and intermediate companies,” Bell said. Read more…

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