The Bloom Lake Phase I project currently operates at a nameplate capacity of 7.4 Mtpa of high-grade 66.2% Fe iron ore concentrate.
The Phase II expansion project’s measured and indicated mineral resources are estimated at 893.5 million tonnes, with an average iron content of 29.3% Fe.
The Phase II expansion proposes an average annual production of 15 Mtpa of 66.2% Fe iron ore concentrate, over a 20-year mine life.
The Phase II expansion proposes a 66.2% Fe iron ore concentrate obtained with an average iron recovery of an estimated 82.4%, with an average plant feed of approximately 29.0% iron content.
The Phase II expansion project estimates a total average production cost of C$46.6 per dry metric tonne.
The Feasibility Study released in June 2019 estimates an after-tax net present value (NPV 8%) of C$2,384 million and an internal rate of return (IRR) of 33.4% for Phase I & II combined.
*Based on a feasibility study published in August 2019.