11th Jul 2024 19:44
GreenRoc Strategic Materials PLC - London-based mining company with operations in Greenland - Publishes updated feasibility study for its planned graphite mine at Amitsoq, South Greenland. Study was conducted by SLR Consulting Ltd and funded in part by a GBP250,000 grant from Innovate UK's Automotive Transformation Fund. Improvements to process design including on site production of nitrogen and deionised water increased capital expenditure 6% to USD340 million from USD321 million, while operational expenditure decreased 18% to USD1,872 from USD2,211 per tonne of coated spherical purified graphite. Also, reported after tax net present value at an 8% discount rate for its anode plant increased 14% to USD621 million from USD545 million as well as an internal rate of return increase to 26.5% from 25.3%. GreenRoc labels this a "significant Increase in anode plant net present value".
Study also assessed the use of sodium hydroxide instead of hydrofluoric acid for alkaline purification resulting in a capex increase to USD395 million from USD340 million, but a decrease in opex to USD1,662 per tonne from USD1,872. Company to conduct further tests to refine its sodium hydroxide process.
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By Aidan Lane, Alliance News reporter
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