Panoramic Resources has updated its ore reserves and mine plan for Savannah, a copper-zinc-cobalt mine in Kununurra, Western Australia. The mine’s construction completion is slated for Q1 2021. 

 

The company’s board recently approved the re-commencement of construction activities, which were disrupted by the COVID-19 pandemic. It expects production of the mine to begin in H1 2021. 

 

According to the company’s report, the development of Savannah will incur a capital expenditure of A$1.60bn ($1.15bn)that encompasses an estimated 13-year life cycle of the mine.

 

The mine is estimated to contain 101,800mt of nickel and 48,500mt of copper in its mineral reserves. The company plans to build a concentrate processing unit with a capacity to process 1mn mt of ore per year. Panoramic noted that around 8.3mn mt of total ore concentrate from Savannah will be put through this plant. 

 

The miner is predicting a price realization of $15,750/mt for nickel and $6,300/mt for copper from the sale of the respective metals. 

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