Mining Intelligence and News
Guinea

Lola Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Graphite
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Updated Feasibility Study is the latest validation that Lola Graphite Project has the resources to become one of the world’s largest graphite producers at attractive capital and operating costs.

Following extensive consultation with its partners, technical consultants, industry participants and potential offtake partners SRG has concluded that an increase in concentrate production, from 50,000 tpa as disclosed in the 2019 Feasibility Study to 100,000 tpa, is expected to significantly increase capital efficiency and project economics.

In parallel with the UFS the Company is also preparing an independent, preliminary economic assessment (“PEA”) of initial options for the start-up of a second transformation step to produce coated spherical purified graphite from the Lola Graphite Project graphite concentrate.

Owners

SourceSource
CompanyInterestOwnership
SRG Mining Inc. 100 % Indirect
The Lola Graphite Deposit is 100% owned by SRG Guinée SARL, a wholly owned subsidiary of SRG Mining Inc. (SRG), formerly SRG Graphite Inc.

Contractors

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Deposit type

  • Sedimentary

Summary:

The Lola Graphite occurrence is a paragneiss-hosted, crystalline, flake-type occurrence. The graphite-rich paragneiss is present at surface over 8.7 km with an average width of 370 m locally reaching 1,000 m. The graphite mineralization is hosted in the strongly sheared paragneiss. Graphite mineralization is well-exposed at surface on its entire strike length, with grades ranging from traces to as much as 20% of large flakes. The upper 32 m or so of the deposit are well-weathered (laterite), freeing graphite flakes from the silicate gangue and allowing for easy grinding with an optimal recovery of large and jumbo flakes. The graphite mineralization extends to depth into the non-weathered paragneiss. Observations under MOLP and SEM show that the main paragneiss is an assemblage dominated by quartz, andesine, orthoclase, and biotite with some sulphides (mainly pyrite ± chalcopyrite - galena - sphalerite). The accessory minerals visible in the fresh rocks are represented by zircon, apatite, rutile, monazite, and rare garnet crystals. Graphite flakes are aligned parallel to foliation and are elongated, somewhat stocky, and sometimes flexuous, varying in size between 10 x 100 µm and 0.3 x 2.3 mm. Over 70% of the flakes have a length greater than 300 µm. They are often shoddy at their ends and made up of slats (1 to 5 µm of thickness by 100 to 500 µm). Biotite and graphite intergrowth is often observed. Investigations by Energy Dispersive X-ray Spectroscopy and microprobe show that graphite flakes are made of pure carbon with no trace of other chemical elements. The rocks in the area were affected by an S1 foliation with subparallel primary stratification S0 still recognizable. General orientation S0 - S1 is N03° with a subvertical dip. The presence of synschistose folds indicates that the rocks were affected by at least two (2) phases of folding isoclinal P1 and P2 folds that deform S0 and S1. Sigmoid structures observed in quartz and quartzite association suggest that the area was affected by a dextral shear oriented N10°. The metamorphic paragneiss and other rocks appear to be the product of at least three (3) phases of metamorphism and deformation between 3.2 and 2.1 Ga.

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
Graphite kt 941,482
All production numbers are expressed as concentrate.

Operational metrics

Metrics
Daily processing rate  ....  Subscribe
Hourly processing rate  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Annual mining rate  ....  Subscribe
Annual production capacity  ....  Subscribe
Annual processing rate  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Site cash costs (produced) Graphite USD  ....  Subscribe
Cash costs Graphite USD  ....  Subscribe
All-in sustaining costs (AISC) Graphite USD  ....  Subscribe
Assumed price Graphite USD  ....  Subscribe
* According to 2023 study / presentation.

Operating Costs

Currency2023
OP mining costs ($/t mined) USD 3.28 *  
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
* According to 2023 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 17, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 17, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 17, 2023

Total WorkforceYear
...... Subscription required 2023
...... Subscription required 2019

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