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Domestic bullion: Board approves plan for incorporation of gold recovery process in 20,000 tpa antimony roaster
Muscat - The promoters of a major antimony roaster plant currently under development at Sohar Freezone have announced plans for the incorporation of a precious metals recovery process that will allow for the production of gold and silver from feedstock, in addition to antimony as the primary product.
The move, which was green-lighted by the company's Board of Directors on Thursday, promises to generate a new revenue stream from the project, as well as position the Sultanate as an emerging producer of bullion.
Oman-registered Strategic & Precious Metals Processing LLC (SPMP) is investing around $70 million in establishing the 20,000 tonnes per annum capacity antimony and associated products plant at Sohar. The project has been billed as the world's first major antimony roaster outside of China in several decades.
The Sultanate's sovereign wealth fund, Oman Investment Fund (OIF), has a 40 per cent equity interest in the project company. Also participating as shareholders are London-based Tri-Star Resources PLC (40 per cent), an integrated antimony and gold mining and mineral processing & minerals technology company; and DNR Industries Ltd (20 per cent), a private company with interests in the mining and energy sectors.
Announcing the Board's approval for the incorporation of the Gold Recovery Process in the project's engineering design, Emin Eyi, Chief Executive Officer -- Strategic & Precious Metals Processing LLC, said the process will utilise existing equipment in order to recover gold and silver whilst recycling and reducing unwanted elements to their lowest levels.
"The inclusion of the Gold Recovery Process is an important and logical next step for the Oman Antimony Roaster, it allows the project to accept a wide range of antimony feedstock, including those associated with gold. This added capability also opens up a significant and new revenue stream for the Company."
"Further plant engineering and test-work on feed material will now be conducted. The knowledge gained from the operation of this gold recovery plant will provide valuable engineering design and operating information for future refractory gold processing initiatives," he stated.
The approval came on the heels of the company's announcement earlier in the week that test work at its pilot facilities in Johannesburg (South Africa) had resulted in the first production of high purity antimony metal.
The tests, witnessed by WorleyParsons Oman -- the company's consultants for the Engineering, Procurement and Construction Management (EPCM) of the antimony roaster project --confirmed the viability and efficacy of the innovative furnace technology that will be employed by SPMP in the production of antimony.
"The tests confirmed the ability to use such technologies to produce antimony metal in a modern environmentally advanced manner, when compared to other traditional metal reduction methods. Such innovations are hoped will differentiate the SPMP product and quality going forward when the main plant is in full production. Further test-work is being undertaken including trials with material from a number
of International producers," the CEO said.
More than 150 direct jobs are expected to be created when the project comes into operation in 2018. In the second phase, the project company has plans to make a substantial investment towards the addition of a gold refractory component that will employ cutting-edge clean roasting technology to process refractory gold concentrates.
© Oman Daily Observer 2016
