"XFRL – Frieda River Copper-Gold Mine Processing Plant – Sandaun - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Xstrata Frieda River Ltd (XFRL), a joint venture (JV) of PanAust Ltd (PAN), which is a wholly owned subsidiary of Guangdong Rising Assets Management Co. Ltd (GRAM) of China, and Highlands Pacific Ltd (HIG) is planning to undertake the Frieda River Copper-Gold Mining facility project in Papua New Guinea.
The project involves the construction of a conventional floating process plant with a capacity of 40 million tonnes per annum (MTPA), producing 175,000 tonnes of copper and 250,000 ounces of gold, with an initial mine life of 17 years. It includes the construction of power station, tailings storage facility (TSF), production units, warehouses, a smelter unit, an administrative facility and related facilities, and the installation of machinery and safety and electrical systems.
Earlier, the project was planned to be developed by the Glencore Xstrata Plc (GLEN) and HIG JV, however in August 2014, PAN acquired the GLEN's 80% share in the project.
PAN completed a scoping study based on a 24 million TPA conventional open-pit and flotation operation producing a copper-gold concentrate for export to custom smelters.
The scoping study assumed to have total mill feed sourced from the project's HIT deposit of 430 million metric tonnes grading 0.54% copper and 0.3 g/mt gold. It suggested the construction of power generation facility of 75MW Heavy Fuel Oil generating sets at Iniok River Port, power transmission line of 130km with 220kV, mine waste of Phu Kham model for waste management.
PAN's proposed development is substantially smaller than that considered in an earlier XFRL feasibility study, which assumed production of 304,000TPA copper and 451,000 oz/y gold in concentrate during its first five years operation and a life-of-mine average of 204,000MTPA copper and 305,000 oz/y gold.
Kramer Ausenco has been appointed as study and design consultant for the project. The scope of the project includes civil engineering, hydrology, hydraulic engineering, architectural services, electrical engineering, constructability, scheduling and cost estimation. EnviroGulf Consulting and Coffey Environment Australia have been appointed as environmental consultants.
In October 2010, feasibility study commenced.
In May 2015, GRAM took over majority stake of 87.38% in PAN for US$923 and joined the project.
Bank of China is to provide funding to complete the feasibility study and to eventual construction of the project.
PanAust has prepared a Frieda River Feasibility Study, which was delivered to HIG in May 2016.
On June 24, 2016, Special Mining Lease (SML) application was submitted to the Mineral Resources Authority (MRA).
In December 2016, HIG initiated a process to explore options to maximize the value of its 20% interest in the project including a potential sale. HIG appointed Cutfield Freeman & Co. as advisor to assist in the process of sale.
On December 20, 2016, the Environmental Impact Statement (EIS) for the project was completed and was submitted to the Conservation and Environment Protection Authority (CEPA).
On January 12, 2017, HIG received the independent technical review report on the feasibility study completed by PanAust in May 2016.
In May 2017, PanAust announced the completion of a feasibility study addendum for the Project.
Planning activities are underway.
The project involves the construction of a conventional floating process plant with a capacity of 40 million tonnes per annum (MTPA) at Frieda River in the West Sepik (Sandaun) and East Sepik provinces, Papua New Guinea.
The US$3,600 million project includes the following: