Stonegate Agricom Ltd. today announced the results of its pre-feasibility study for the development of an underground mine in its Paris Hills Phosphate Project in Idaho, USA.
The study projects production of 10 million tonnes of direct-ship, concentrate-quality phosphate rock (with no beneficiation required).
The report suggests total project financing requirements for development of $134.3 million, which includes contingency of $16.1 million and working capital of $6.5 million, with a cash operating cost of $72.99 per tonne of saleable product.
A 14-year mine life is predicted with production reaching more than 800,000 tonnes per annum in the third year and more than 1 million tonnes in the fifth year. Total production and mine life potentially could be increased as assay results of ongoing and future drilling on the property are incorporated into mineral reserve estimates.
Stonegate Agricom is actively engaged in acquiring and developing agricultural nutrient projects, and is currently focused on the development of two potentially world-class, long-life phosphate deposits, the Paris Hills Phosphate Project in Idaho and the Mantaro Phosphate Project in Peru.
