Overview
Stage | Permitting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 25 years (as of Jan 1, 2022) |
The Steelpoortdrift Project is divided into two separate surface localities namely, the mine / concentrator site, and the SRL (Salt Roast Leach Plant)/ administration site, located approximately 23km apart by road.
Environmental authorizations and water use license applications for each site are advancing well with approval expected in H1 CY2024. The study also indicated potential for optimizing project economics through value engineering studies to reduce costs, extend project lifespan to over 100 years, increase earnings, and minimize environmental impacts. |
Source:
p. 1-2
Steelpoortdrift Vanadium Project Project (SPD) is underpinned by a Mining Right awarded to Vanadium Resources (Proprietary) Limited.
In November 15, 2023, Vanadium Resources Ltd. (VR8) increased its interest in Vanadium Resources (Pty) Ltd (VanRes) to 86.49% (up from 81.90%), following the satisfaction of all conditions precedent3 of the sale and option agreement with Math-Pin (Pty) Ltd (Math-Pin). Under the Agreement, VR8 has acquired Math-Pin’s 4.59% stake (293 shares) in VanRes.
Contractors
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Summary:
The Steelpoortdrift Project is located within the Eastern Limb of the Bushveld Complex which is the world’s largest igneous intrusion and spans approximately 450km in width, 66,000km2 in area and up to 9km in thickness. Stratigraphically, the Bushveld Complex is comprised of three intrusive suites, namely the Rustenburg Layered Suite (“RLS”), Rashoop Granophyre Suite and the Lebowa Granite Suite.
The RLS is host to mafic layers rich in platinum group elements (“PGEs”), nickel, copper, chromium and vanadium. The RLS is sub-divided into four stratigraphic zones namely the Upper Zone, Main Zone, Critical Zone and Lower Zone. Only the Upper Zone is of relevance to the Steelpoortdrift Project and comprises a layered succession of ferrogabbros, troctolites, anorthosites and magnetite layers.
The Bushveld Complex is a saucer-shaped, layered igneous intrusion emplaced as multiple injections or pulses of sulphide rich magma. Crystal fractionation of the magmas into immiscible silicates and sulphides formed the layering. The sulphides scavenged the PGEs and other metals from the melt and deposited them into the sulphide layers. The layers or reefs are typically gently dipping tabular bodies, which are identifiable across hundreds of kilometres.
Vanadium predominantly reports, but not only, to the magnetite layers, with controls on mineralisation being related to oxygen fugacity and temperature of the melt. Vanadium mineralisation occurs within four va ........
Summary:
The 25 year Steelpoortdrift Project comprises the open pit mining of titaniferous vanadium ore.
All mining will be undertaken from surface via conventional open pit mining method, at a 5m bench height, using drill rigs, excavators and haul trucks and an auxiliary mining fleet of dozers, graders, water trucks and utility vehicles.
The pit optimisation exercise assumed production rates of 1.6Mtpa ROM ore for the Phase 1 and 3.5Mtpa ROM ore for Phase 2 expansion, which was required to produce sufficient ore for at least 25 years.
Three open pits have been designed within the low impact inclusion zone. Pit 1 is the northern most pit and contains an estimated 54.45Mt of ore at an average grade of 0.72% V2O5. Pit 2 is situated south of Pit 1 and contains an estimated 26.23Mt of ore at an average grade of 0.69% V2O5. Pit 3 is the southern most pit and contains an estimated 2.83Mt of ore at an average grade of 0.73% V2O5.
Mining will commence in Pit 2, followed by Pit 1 and finally Pit 3.
Two waste rock dumps (“WRDs”) will be used to store waste rock prior to rehabilitation back into the open pits. WRD 1 is located on the west of Pit 2, while WRD 2 is situated located north of Pit 1. WRD 1 has a footprint of 23.3ha and has been designed with a capacity of 3.97Mm3. WRD 2 has a footprint of 49.5ha and a capacity of 12.59Mm3.
Vanadium Resources Ltd has elected a contractor approach to mining.
Source:
Flow Sheet:
Summary:
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Source:
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Projected Production:
Commodity | Units | Avg. Annual | LOM |
V2O5
|
kt
| 19 | 484 |
All production numbers are expressed as flake.
Operational Metrics:
Metrics | |
Annual ore mining rate
| ...... |
Annual processing capacity
| ...... |
Stripping / waste ratio
| ...... |
Waste tonnes, LOM
| ...... |
Ore tonnes mined, LOM
| ...... |
Total tonnes mined, LOM
| ...... |
* According to 2022 study.
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Reserves at August 31, 2022:
The cut-off grade of 0.45% used for the Mineral Resource estimate has also been applied to the Ore Reserve estimate.
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven
|
30.23 Mt
|
V2O5
|
0.7 %
|
213.09 kt
|
Probable
|
46.62 Mt
|
V2O5
|
0.72 %
|
337.32 kt
|
Proven & Probable
|
76.86 Mt
|
V2O5
|
0.72 %
|
550.41 kt
|
Measured
|
145,450,000 t
|
V2O5
|
0.72 %
|
1,045,000 t
|
Indicated
|
327,290,000 t
|
V2O5
|
0.7 %
|
2,291,000 t
|
Inferred
|
207,370,000 t
|
V2O5
|
0.68 %
|
1,403,000 t
|
Total Resource
|
680,110,000 t
|
V2O5
|
0.7 %
|
4,739,000 t
|
Corporate Filings & Presentations:
Document | Year |
...................................
|
2024
|
...................................
|
2023
|
...................................
|
2022
|
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