Mine Arnaud has stated that the budget for completion of its updated Bankable Feasibility Study, expected in 2Q17, has been unanimously approved by both Yara International and Investissement Quebec which own 38% and 62%, respectively.
The main drivers for the updated study include: incorporating cost savings arising from the port and rail infrastructure recently acquired by Investissement Quebec; increased confidence in tailings management; confirm concentrator flow sheet with a complete pilot plant test, and review the LOM and actualise cost with updated figures.
The Mine Arnaud phosphate project is located approximately 15 km west of the town of Sept-Îles and close to the Saint Lawrence River. In February 2016, Investissement Quebec acquired Cliffs Natural Resources' iron ore assets in Canada including related infrastructure.
Mine Arnaud is expected to have a mine life of approximately 30 years, producing on average 1.5 milion tpy of payable phosphate rock concentrate. Mine Arnaud will be able to produce a high grade concentrate at 39% P2O5.