31 August 2015
MUSCAT: Australian-based minerals exploration and mining development company Alara Resources Limited has announced the formal launch of a study into the feasibility of establishing an 800,000 tonnes per annum (tpa) capacity copper-gold processing plant in the Sultanate. The initiative, which promises to impart new impetus to investment in Oman's potentially lucrative mining and mineral processing industry, builds on an Advancing Scoping Study that was completed in April this year. That study, along with a series of earlier investigations underlined the "robust and attractive" economics of the project even at current prices averaging around $5,000 per tonne of copper, and $1,100 per ounce of gold, Alara said in a statement.
Also known as the 'Washihi/Daris Copper Gold Project', the initiative centres on a proposal to process mineral ores extracted from deposits discovered in the Washihi and Daris areas of the Dhakhiliyah and Batinah North governorates respectively of the Sultanate. An assessment of the larger Washihi prospect pegged the mineral potential of the resources at an indicated 6.84 million tonnes of ore bearing 0.90 per cent copper and 0.17 grams/tonnes of gold, and an inferred 7.27 million tonnes bearing 0.71 per cent copper and 0.20 grams/tonne of gold.
Measured and indicated estimates of the Daris Prospects comprise 240 kilo tonnes of sulphide ore at 2.37 per cent copper and 183 kilo tonnes of oxide ore at 0.72 per cent copper respectively.
In a statement, Alara said it is also weighing a proposal submitted by "a large, vertically integrated mining, engineering and construction firm" for the establishment of a copper-gold processing plant at Washihi. The proposal envisages a complex of facilities that includes a concentrator valued at $15 million, a crushing plant of a capacity of 1 million tonnes per annum, and a million and floatation capacity of 800,000 tonnes per annum.
Alara has joint ventures interests in a total of four (copper-gold) exploration licenses extending over 692 sq kilometres, collectively referred to as the Washihi/Daris Project. The Washihi project comprises three prospects/exploration licenses (Washihi, Mullaq and Al Ajal) totalling around 105 sq kilometres. Alara has a 70 per cent interest in Al Hadeetha Resources, the holder of the mineral licenses for Washihi.
The Daris Project, on the other hand, comprises one exploration licence (Block 7) of around 587 sq km. Alara has a 50 per cent interest in the joint venture Daris Resources LLC (with a right to earn up to 70 per cent) which holds the exclusive right to manage, operate and commercially exploit the exploration licence.
"In light of the commitment to deliver the feasibility study within four months, the recent mining and construction proposal, and improved project economics, a decision to progress the feasibility study in earnest has now been taken," the company stated, adding that the feasibility study is due to be completed in four months.
MUSCAT: Australian-based minerals exploration and mining development company Alara Resources Limited has announced the formal launch of a study into the feasibility of establishing an 800,000 tonnes per annum (tpa) capacity copper-gold processing plant in the Sultanate. The initiative, which promises to impart new impetus to investment in Oman's potentially lucrative mining and mineral processing industry, builds on an Advancing Scoping Study that was completed in April this year. That study, along with a series of earlier investigations underlined the "robust and attractive" economics of the project even at current prices averaging around $5,000 per tonne of copper, and $1,100 per ounce of gold, Alara said in a statement.
Also known as the 'Washihi/Daris Copper Gold Project', the initiative centres on a proposal to process mineral ores extracted from deposits discovered in the Washihi and Daris areas of the Dhakhiliyah and Batinah North governorates respectively of the Sultanate. An assessment of the larger Washihi prospect pegged the mineral potential of the resources at an indicated 6.84 million tonnes of ore bearing 0.90 per cent copper and 0.17 grams/tonnes of gold, and an inferred 7.27 million tonnes bearing 0.71 per cent copper and 0.20 grams/tonne of gold.
Measured and indicated estimates of the Daris Prospects comprise 240 kilo tonnes of sulphide ore at 2.37 per cent copper and 183 kilo tonnes of oxide ore at 0.72 per cent copper respectively.
In a statement, Alara said it is also weighing a proposal submitted by "a large, vertically integrated mining, engineering and construction firm" for the establishment of a copper-gold processing plant at Washihi. The proposal envisages a complex of facilities that includes a concentrator valued at $15 million, a crushing plant of a capacity of 1 million tonnes per annum, and a million and floatation capacity of 800,000 tonnes per annum.
Alara has joint ventures interests in a total of four (copper-gold) exploration licenses extending over 692 sq kilometres, collectively referred to as the Washihi/Daris Project. The Washihi project comprises three prospects/exploration licenses (Washihi, Mullaq and Al Ajal) totalling around 105 sq kilometres. Alara has a 70 per cent interest in Al Hadeetha Resources, the holder of the mineral licenses for Washihi.
The Daris Project, on the other hand, comprises one exploration licence (Block 7) of around 587 sq km. Alara has a 50 per cent interest in the joint venture Daris Resources LLC (with a right to earn up to 70 per cent) which holds the exclusive right to manage, operate and commercially exploit the exploration licence.
"In light of the commitment to deliver the feasibility study within four months, the recent mining and construction proposal, and improved project economics, a decision to progress the feasibility study in earnest has now been taken," the company stated, adding that the feasibility study is due to be completed in four months.
© Oman Daily Observer 2015
