Royal Nickel Corporation announced the completion of additional metallurgical
testwork on production of by-product iron ore (magnetite) concentrate from the
Dumont Nickel Project ("Dumont") and an initial assessment of the marketability
of the concentrate completed by CRU Strategies. This additional work confirms
the potential to produce an iron ore by-product from the existing magnetic
tailings stream in the Dumont pre-feasibility nickel recovery flowsheet. Results
of these studies will be incorporated into a revised pre-feasibility study
expected to be released in May 2012.
Mr Tyler Mitchelson President and CEO of Royal Nickel Corporation said that "Our additional testwork confirms that iron ore concentrate is expected to be a valuable by-product from Dumont. I look forward to seeing the impact of the addition of an iron ore by product on our upcoming revised pre-feasibility study along with anticipated improvements in nickel recoveries, use of trolley assist in our open pit mine and an updated resource."
Metallurgical testwork was completed on five different composite samples from across the Dumont deposit. These samples produced iron ore concentrate grading an average of 63.5% iron, while recovering an average of 2.6% of total ore feed. The test results produced iron ore concentrates that had iron values ranging from 61% to 69% at recoveries that ranged from 1.8% to 3.9% of the total ore feed. Because iron ore concentrate is not typically produced from ultramafic nickel deposits, the resulting concentrate had very low levels of typical iron ore impurities like phosphorous <0.01% and silica (SiO2) and alumina (Al2O3) while having much higher concentrations of impurities like chrome and magnesia.
The initial marketability assessment indicated that the FOB Quebec City price is estimated to be USD 94 per tonne based on the 3 year average iron ore price of USD 131 per tonne for IODEX 62% sinter prices CFR China from 2009 through 2011. At a long-term benchmark iron ore price of USD 100 per tonne, the FOB Quebec City price would be approximately USD 62 per tonne.
Source - Royal Nickel Corporation
(www.steelguru.com)
Mr Tyler Mitchelson President and CEO of Royal Nickel Corporation said that "Our additional testwork confirms that iron ore concentrate is expected to be a valuable by-product from Dumont. I look forward to seeing the impact of the addition of an iron ore by product on our upcoming revised pre-feasibility study along with anticipated improvements in nickel recoveries, use of trolley assist in our open pit mine and an updated resource."
Metallurgical testwork was completed on five different composite samples from across the Dumont deposit. These samples produced iron ore concentrate grading an average of 63.5% iron, while recovering an average of 2.6% of total ore feed. The test results produced iron ore concentrates that had iron values ranging from 61% to 69% at recoveries that ranged from 1.8% to 3.9% of the total ore feed. Because iron ore concentrate is not typically produced from ultramafic nickel deposits, the resulting concentrate had very low levels of typical iron ore impurities like phosphorous <0.01% and silica (SiO2) and alumina (Al2O3) while having much higher concentrations of impurities like chrome and magnesia.
The initial marketability assessment indicated that the FOB Quebec City price is estimated to be USD 94 per tonne based on the 3 year average iron ore price of USD 131 per tonne for IODEX 62% sinter prices CFR China from 2009 through 2011. At a long-term benchmark iron ore price of USD 100 per tonne, the FOB Quebec City price would be approximately USD 62 per tonne.
Source - Royal Nickel Corporation
(www.steelguru.com)
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