Ann: West Arunta Project - Luni MRE, page-190

Luni development scenario

The currently envisaged 2Mtpa throughput development could deliver strong returns including a NPV of $3bn, Argonaut says.

“With an assumed mineable inventory of 32Mt grading 2.5% Nb2O5 our proposed operation would operate for 17 years with plant commissioning from 2030,” Ross says.

“Mining and flotation processing would occur at site, high-value mineral concentrate would then be trucked to a pyrometallurgical refinery located at either Port Hedland or Karratha and concentrate would be leached and converted into ferroniobium for sale.

“Assuming a US$40/kg Nb2O5 (US$26/kg FeNb) price, the project would generate profits after tax of ~A$400M per annum.”

For the remainder of the year, WA1 plans to convert a portion of the current resource to the indicated category, targeting additional high-grade potential both laterally and at depth.