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Brazil
Santa Rita Operation (Santa Rita Expansion Project) (Santa Rita Expansion Project)

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 Location:
7 km SE from Ipiau, Brazil

  Address:
Fazenda Santa Rita
Itagiba
Brazil
45585-000
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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Nickel
  • Copper
  • Cobalt
  • Palladium
  • Platinum
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2054
Underground expansion: Atlantic Nickel is targeting the delivery of a Prefeasibility Study in H1 2024 remaining well on track for the commencement of underground development.

Santa Rita is one of the very few long-life nickel sulphide mines in operation globally, boasting 35 years of mine life producing between 20-35 ktpa NiEq contained in concentrate. Based on an NI 43-101 technical report completed in 2021, the operation mines an 8-year open pit with an NPV8 of US$570m, then transitions to 27-years of underground sublevel caving operations with an NPV8 of US$812m. Capital expenditure over the first 5 years of the underground is US$332m and expected to be fully funded out of operating cash flow.


Owners

Source: p. 18
CompanyInterestOwnership
Appian Capital Advisory LLP 100 % Indirect
Atlantic Nickel Mineração Ltda. (operator) 100 % Direct
The Santa Rita nickel mine is owned and operated by Atlantic Nickel Mineração Ltda. (Atlantic Nickel), a subsidiary owned by Appian Capital Advisory LLP (Appian Capital).

Contractors

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Deposit Type

  • Magmatic
  • Intrusion related
  • Laterite


Summary:

Mineralisation within the Fazenda Mirabela intrusion is considered to be an example of a magmatic nickel–copper sulphide deposit.

The Fazenda Mirabela intrusion, which hosts mineralisation at Santa Rita, is located within the Archean–Paleoproterozoic Itabuna–Salvador–Curaça orogenic (ISC) belt. It consists of a lowpotassium calc-alkaline plutonic suite of rocks that includes intercalated metasedimentary rocks, gabbro, and basalt. The Fazenda Mirabela mafic–ultramafic body intruded granulite of the ISC. The lower zone of the intrusion consists of olivine-rich cumulates, primarily dunite to harzburgite, and is capped by pyroxenite; the upper zone consists primarily of gabbroic cumulates, consisting of gabbronorites to norites.

The intrusion is oval-shaped in plan view, with outcrop dimensions of approximately 4.0 km by 2.5 km and original stratigraphic thickness of at least three kilometres. In cross-section, the intrusion extends to a vertical depth of approximately 1,400 m.

Three generations of deformation phases are recognised, including thrust duplexes, quartz–feldspar pegmatite dikes intruded into basement lithologies, and folding. The major alteration type is fracture or structurally controlled serpentinisation.

A significant laterite profile, typically 25 m thick, developed over the dunite–harzburgite lithologies, but is absent or poorly developed over other lithologies.

The Santa Rita deposit is characterised by th ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Santa Rita deposit is currently being mined by conventional open pit methods, and production is scheduled from 2023 to 2028. The open pit will be mined to a maximum depth of 320 m (164 m RL). Underground development would commence before the open pit is depleted so that there would not be a significant gap in feed to the process plant.

The Santa Rita mineralization extending below the open pit comprises a large tabular-to-massive deposit, striking north-south for over 800 m, dipping 50° to 55° to the east, extending to a known depth of approximately 1,100 m, and varying in thickness from 50 m to 150 m. The mineralization shows a trend for increasing grade and thickness with depth.

The 2023 PEA contemplates, at a conceptual level, an underground mine using sub-level caving (SLC) and producing at a rate of approximately 6.2 Mt/a. An SLC mining method was selected for the underground portion of the Santa Rita deposit based on the amenable geometry of the deposit and the productivity and cost advantages of SLC enabling greater exploitation of the Mineral Resource at a greater margin than more selective methods. The relatively wide deposit determined that a transverse drill drive orientation should be used.

Based on the estimated Mineral Resources, an underground mine life of approximately 28 years following two years of pre-production development is envisaged.

The Santa Rita open pit mining operation mainly encompasses a single larg ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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^ Guidance / Forecast.

Production:

CommodityProductUnits2023202220212020
Nickel Concentrate kt  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required
Nickel Equivalent Payable metal kt  ......  Subscription required  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics2023202220212020
Stripping / waste ratio  ......  Subscription required  ......  Subscription required
Ore tonnes mined  ......  Subscription required  ......  Subscription required
Waste  ......  Subscription required  ......  Subscription required
Tonnes processed  ......  Subscription required  ......  Subscription required  ......  Subscription required4.5 Mt
Daily mining rate  ......  Subscription required  ......  Subscription required  ......  Subscription required
Daily processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
Annual ore mining rate  ......  Subscription required  ......  Subscription required  ......  Subscription required
Annual mining rate  ......  Subscription required  ......  Subscription required  ......  Subscription required
Annual processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
Total tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required17.6 Mt
^ Guidance / Forecast.
Subscription required - Subscription is required.

Reserves at December 31, 2022:
The grade and contained metal of nickel sulfide are presented herein as the grade and contained metal of nickel.

Mineral Reserves: An NSR cut-off value of $11.04/t is estimated to differentiate ore from waste and is based on cost assumptions of US$5.67/t processing, US$1.96/t site general and administrative, and US$3.41/t sustaining capital costs.

Mineral Resources are estimated at a net smelter return (NSR) cut-off value of US$8.91/t for open pit, and US$30.00/t for underground.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven & Probable Total 34,842 kt Nickel 0.31 % 108.8 kt
Proven & Probable Total 34,842 kt Copper 0.11 % 39 kt
Proven & Probable Total 34,842 kt Cobalt 0.01 % 3.5 kt
Proven & Probable Total 34,842 kt Palladium 0.03 g/t 33.6 koz
Proven & Probable Total 34,842 kt Platinum 0.06 g/t 69.5 koz
Proven & Probable Total 34,842 kt Gold 0.04 g/t 44.8 koz
Measured & Indicated Stockpiles 870 kt Nickel 0.22 % 1.9 kt
Measured & Indicated In-Situ (OP) 43,388 kt Nickel 0.33 % 141.2 kt
Measured & Indicated In-Situ (UG) 105,859 kt Nickel 0.54 % 568.2 kt
Measured & Indicated Total 150,117 kt Nickel 0.47 % 711.3 kt
Measured & Indicated Stockpiles 870 kt Copper 0.1 % 0.9 kt
Measured & Indicated In-Situ (OP) 43,388 kt Copper 0.12 % 51.3 kt
Measured & Indicated In-Situ (UG) 105,859 kt Copper 0.18 % 187.5 kt
Measured & Indicated Total 150,117 kt Copper 0.16 % 239.6 kt
Measured & Indicated Stockpiles 870 kt Cobalt 0.09 % 0.8 kt
Measured & Indicated In-Situ (OP) 43,388 kt Cobalt 0.01 % 4.2 kt
Measured & Indicated In-Situ (UG) 105,859 kt Cobalt 0.01 % 13.6 kt
Measured & Indicated Total 150,117 kt Cobalt 0.01 % 18.6 kt
Measured & Indicated Total 150,117 kt Palladium 0.04 g/t 180.4 koz
Measured & Indicated Total 150,117 kt Platinum 0.09 g/t 423 koz
Measured & Indicated Total 150,117 kt Gold 0.06 g/t 277.5 koz
Inferred In-Situ (OP) 45 kt Nickel 0.25 % 0.1 kt
Inferred In-Situ (UG) 130,852 kt Nickel 0.54 % 702.3 kt
Inferred Total 130,898 kt Nickel 0.54 % 702.5 kt
Inferred In-Situ (UG) 130,852 kt Copper 0.17 % 224.5 kt
Inferred In-Situ (UG) 130,852 kt Cobalt 0.01 % 17.3 kt
Inferred Total 130,898 kt Palladium 0.05 g/t 210.7 koz
Inferred Total 130,898 kt Platinum 0.1 g/t 426.8 koz
Inferred Total 130,898 kt Gold 0.06 g/t 259.2 koz

Commodity Production Costs:

CommodityUnits202220212020
All-in sustaining costs (AISC) Nickel USD  ......  Subscription required
C1 cash costs Nickel USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units202220212020
Capital expenditures M USD  ......  Subscription required
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required


Water Supply
Source: Subscription required

- subscription is required.


Heavy Mobile Equipment as of December 31, 2022:
HME TypeModelSizeQuantityStatusLeased or
Contractor
Bulldozer ....................... Subscription required 40 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Bulldozer ....................... Subscription required 20 t ....................... Subscription required Existing Leased
Drill (blasthole) ....................... Subscription required 4.5 inch ....................... Subscription required Existing Leased
Drill (blasthole) ....................... Subscription required 4.5 inch ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Excavator ....................... Subscription required 35 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Excavator ....................... Subscription required 35 t ....................... Subscription required Existing Leased
Excavator ....................... Subscription required 50 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Excavator ....................... Subscription required 70 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Grader ....................... Subscription required 16 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Loader ....................... Subscription required 18 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Tractor trailer ....................... Subscription required 70 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Truck (haul) ....................... Subscription required 48 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Truck (haul) ....................... Subscription required 36 t ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Truck (water) ....................... Subscription required 20000 l ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Other 2023
Press Release 2023
Press Release 2023
Sustainability Report 2022
Technical Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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