United States

Mount Hope Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life41 years (as of Jan 1, 2014)
ShapshotThe Mt. Hope Project is one of the largest and highest grade primary molybdenum deposits in the world.

Project is fully permitted. Subject to satisfactory resolution of the appeal for the Record of Decision. Pre-construction work suspended.

Life of mine of Mount Hope project is 41 years. Active mining is about 34 years. Low-grade material is stockpiled for later post-mining processing.

Owners

SourceSource
CompanyInterestOwnership
POSCO International Corp. 20 % Indirect
New Moly LLC 80 % Indirect
Eureka Moly, LLC (operator) 100 % Direct
The project is owned and operated by Eureka Moly, LLC (EMLLC), of which New Moly has an 80% interest and POS-Minerals Corporation, a subsidiary of the South Korean steel company POSCO, has a 20% interest.

New Moly was created through a business combination between Avanti Kitsault Mines Ltd. and General Moly Inc. which owned the Kitsault and Mt. Hope assets.

Deposit type

  • Porphyry

Summary:

The Mount Hope Deposit is a classic molybdenum porphyry, typified by the deposit at Climax Colorado. This type of deposit has well zoned molybdenum (moly) mineralization where the grade zoning surrounds the central zone of the deposit and forms geometries that are circular in plan and arch shaped in section.

Mount Hope differs from Climax in that the multiple mineral centers are adjacent horizontally rather than juxtaposed over the same porphyry center. The centers of mineralization are referred to as the east and west mineral systems. The eastern and western mineral systems each contain mineral shells at least 3,300 ft in diameter, and the two systems are centered about 2,300 ft apart along a west-northwest axis. The mineral zones or “shells” consist of quartz stockwork veining that contains molybdenite that is hosted within both porphyry and sedimentary units.

MINERALIZATION
The main form of molybdenum mineralization is molybdenite (MoS2), developed within the porphyritic igneous rocks and in the Vinini hornfels adjacent to the southern margin of the igneous rocks. Much of the known molybdenite is distributed around two mineralized systems consisting of two dome shaped zones of mineralized stockworks. These zones are shaped like inverted bowls along an east-west trend. The two systems form east and west mineral systems that intersect each other.

Eastern and Western Minerals Systems
The western mineral system is characterized by a triangular distribution of molybdenum grades in plan view with well-defined grade zones. Mineralization is best developed in the southern and eastern quadrants of this system. The center of the system is directly above the western quartz porphyry intrusive stock.

The eastern mineral system contains well-developed mineral grade shells in quartz porphyry above the eastern porphyry stock. In the northwest quadrant of the system, these shells are continuous with mineralization of the overlap zone. The apex of the mineral system has, however, been sliced off and faulted down and eastward along the Mount Hope Fault. The offset fault mineralization is theorized to lie above the fault.

Overlap Zone
A concentration of higher-grade mineralization is present between the eastern and western mineral systems. Referred to as the overlap zone, this zone is roughly 1,300 ft in diameter and varies from 325 to 985 ft thick. The top is 325 ft below the ground surface. This zone is the nucleus of the open pit target. Overlap mineralization lies beneath the Mount Hope Fault, and the upper, eastern edge is truncated by the fault surface. The overlap zone is interpreted as a rock volume that was mineralized by both mineral systems in sequence, contributing to a greater intensity of stockwork veining and additive molybdenum grades.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Molybdenum M lbs 291,200
All production numbers are expressed as oxide.

Production Costs

CommodityUnitsEstimated
Cash costs Molybdenum USD 00
Total cash costs Molybdenum USD 00
Assumed price Molybdenum USD 00
* According to 2014 study / presentation.

Operating Costs

Currency2023
OP mining costs ($/t mined) USD 1.31 *  USD
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2014 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 8, 2023

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