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ScoZinc Mining poised Nova Scotia production

Mining News - Published on Thu, 27 Dec 2018

Image Source: Resource World Magazine
ScoZinc Mining Ltd said that it is poised to be one of Canada’s next base metal producers after releasing a project update and improved economic study for its wholly-owned ScoZinc zinc-lead mine in Nova Scotia. The forecast came after the company said it has completed additional technical and economic optimization studies to update the February 2018 Preliminary Economic Assessment for the mine. The company said in a press release “Project returns remain very robust as increased throughput, lower Canadian dollar assumption, and lower initial capital largely offset lower metal price assumptions.”

ScoZinc is an established zinc and lead exploration and development company that owns the ScoZinc Mine near Halifax. The mine last operated from mid-2007 through early 2009 before it was shut down following a dramatic decline in zinc and lead prices during the 2008-2009 financial collapse. The updated PEA envisages the sequential development of two open pit operations on the Main deposit, followed by the development of the Northeast deposit.

Both pits are located in close proximity to the mill. A small underground operation ranging from 250 to 500 tonnes per day will be mined in year five to provide high-grade mineralization for blending with the open pit feed.

Highlights of the updated PEA include a revised mill process plan to incorporate a recently purchased SAG mill, which allows for higher throughput, as well as updated and refined capital and operating costs.

Additionally, changes in market conditions and outlook in late 2018 warranted revisions to some of the base case assumptions incorporated into the revised PEA, particularly a downward revision to metal prices and the Canadian dollar to U.S. dollar exchange rate.

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Posted By : Rabi Wangkhem on Thu, 27 Dec 2018
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