Sembehun Project Feasibility and Market Dynamics
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Sembehun PFS Summary – Capex & Opex Estimate
The Sembehun PFS operating expenditure and capital expenditure estimates for Phase 1 and Phase 2 are outlined below.
Sierra Rutile Limited
Operating Expenditure Estimate
Capital Expenditure Estimate
(real, US$/t rutile)
Phase 1
Phase 2
Mining
191
250
(real, US$m)
Direct
Phase 1
Phase 2
Total
WCP
218
176
Mine development
4
4
Logistics to MSP
35
35
Wet concentrator plant
83
22
21
104
MSP
108
100
Mineral separation plant
4
4
Logistics to Port
Non-process
10
10
46
1
infrastructure
46
46
Port
22
12
Indirect
Overheads
456
228
Indirects²
Selling Costs
6
6
Contingency³
Total operating costs per tonne³
1,048
818
Project total costs4
90
16
106
63
11
73
284
52
337
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The operating cost estimate was developed with the assistance of Hatch using a
combination of bottom-up factored estimates and current rates from Area 1
operations on which the Sembehun process is based.
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Operating costs per tonne are expected to improve in Phase 2 as a result of
ramp-up costs normalising and economies of scale being achieved across the
integrated Sembehun operation.
A phased development approach has been designed to optimise the upfront
capital required and maximise the ability to utilise Area 1 cash flows to support
the development of Sembehun.
•
The majority of development costs will be incurred during Phase 1, with a
second wet concentrator plant and supporting capital representing the majority
of costs to be incurred during Phase 2.
Notes: (1) Please see Appendix H for information on future capital requirement risk. (2) Indirect costs include project management, technical services, EPCM, sub consultants, temporary construction facilities, site wide capitalised
costs, commissioning, start-up inventories, spares, insurance, land acquisition and freight costs. (3) Contingency costs represent 28% of the base capital expenditure estimate. (4) Numbers may not sum due to rounding.
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