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Zimbabwe
Arcadia Project

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 Location:
38 km E from Harare, Zimbabwe

  Project Contacts:
76 Clark Road
Bulawayo
Zimbabwe
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Lithium
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life18.3 years (as of Jan 1, 2021)


Owners

Source: p. 1
CompanyInterestOwnership
Zhejiang Huayou Cobalt Co., Ltd. 87 % Indirect
Prospect Lithium Zimbabwe (Pvt) Ltd. (operator) 100 % Direct
Ownership Tree
Prospect Resources Limited (Prospect or the Company) is pleased to advise that the sale of the Prospect group’s 87% interest in the Arcadia Lithium Project (Arcadia Project) to a subsidiary of new energy lithium-ion battery material producer, Zhejiang Huayou Cobalt Co., Limited (Huayou) (Transaction) completed on 20 April 2022.

Arcadia is owned by Zhejiang Huayou Cobalt Co., through its 87% owned subsidiary, Prospect Lithium Zimbabwe (pvt) ltd (PLZ).
Kingston Kajese - 6%;
Tamari Trust - 7%.

Contractors

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Deposit Type

  • Pegmatite


Summary:

The geology of the greater Arcadia area is dominated by greenstone lithologies of the Arcturus Formation of the Harare Greenstone Belt (HGB). These greenstones are encircled and intruded by a variable suite of granitic rocks, the oldest of which may have been intruded at a similar time with the youngest felsic volcanic rocks of the belt. There is also some evidence for a small remnant area of gneissic basement to the greenstone belt.

The HGB takes the form of a complex refolded synform structure, which outcrops in two major limbs.

The E-W trending Arcturus Limb occupies a broad band across the centre of the area, and to the west of the city of Harare this passes via a fold closure into the N-S trending Passaford Limb which is contiguous northwards to the greenstones of the Bindura area.

The main HGB lithological units comprise mainly meta-basalts, banded iron formations, metaandesites, serpentinites, dolerites and the lithium bearing pegmatites that also host beryl, tin and tantalite amongst others.

Four different rock types are found on the Arcadia and Green Mamba claims. These are metabasalt, pegmatite, dolerite and quartz veins, listed from relatively oldest to youngest. The pegmatites comprise the lithium bearing rocks and are of immediate relevance to the Project.

Pegmatite outcrops are coarse to very coarse grained, white to greyish white in colour and blocky in appearance with some oxidation along joint planes. How ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The current mining schedule developed has been revised to suit operations at 2.4 Mtpa.

Due to the shallowness of the orebody, open pit mining method is the most economic extraction method.

Waste dumps will be located as close as possible to pit exit points to minimise haulage profiles without disrupting the access to the minable resource or crushing plant.

The Main Pit has been designed in four phases to maximise Project discounted cash flow. This includes two small “starter” pits within the first phase pit to be mined at the commencement of operations, thus allowing for the mine schedule to minimise waste mining in the early years and maximise the lithium grades of the ore fed to the process plant, while maintaining practical mining practices including a minimum working width.

Mining operations will be conducted utilising a contracted fleet for key equipment with some ancillary vehicles being supplied by the mine operator. PLZ will be in charge of managing and supervising the contractor to ensure compliance with all business ethics, environmental and occupational health and safety requirements.

It is planned that track mounted diesel hydraulic backhoe excavators will load ore and waste into dump trucks. Ore grading 1% Li2O or more will be transported to the run of mine (ROM) pad where it will be stockpiled in fingers prior to reclamation by front end loader. Lower grade ore will be stockpiled for later processing or blen ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Tantalum Concentrate kt 0.36
Petalite Concentrate kt  ......  Subscription required  ......  Subscription required
Spodumene Concentrate kt  ......  Subscription required  ......  Subscription required
LCE Total kt  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2021 study.
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Reserves at October 15, 2021:
Mineral Resource estimate 0.2% Li2O Cut-off.

CategoryTonnage CommodityGradeContained 
Commodity
Proven 11.8 Mt Li2O 1.25 % 144,000 t
Proven 11.8 Mt Ta2O5 114 ppm 3 M lbs
Probable 30.5 Mt Li2O 1.17 % 357,000 t
Probable 30.5 Mt Ta2O5 123 ppm 8.3 M lbs
Proven & Probable 42.3 Mt Li2O 1.19 % 504,000 t
Proven & Probable 42.3 Mt Ta2O5 121 ppm 11.3 M lbs
Measured 15.8 Mt Li2O 1.12 % 176,900 t
Measured 15.8 Mt Ta2O5 113 ppm 3.9 M lbs
Indicated 45.6 Mt Li2O 1.06 % 483,600 t
Indicated 45.6 Mt Ta2O5 124 ppm 12.5 M lbs
Inferred 11.2 Mt Li2O 0.99 % 111,300 t
Inferred 11.2 Mt Ta2O5 119 ppm 2.9 M lbs
Total Resource 72.7 Mt Li2O 1.06 % 770,200 t
Total Resource 72.7 Mt Ta2O5 119 ppm 19.4 M lbs

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Spodumene USD  ......  Subscription required&nbs
Cash costs (sold) Spodumene USD  ......  Subscription required *†
All-in sustaining costs (sold) Spodumene USD  ......  Subscription required *†
All-in costs Spodumene USD  ......  Subscription required *†
Assumed price Spodumene USD  ......  Subscription required&nbs
Assumed price Tantalum USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2021
OP mining costs ($/t mined) USD 2.61 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 14, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 22, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 22, 2022
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Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Feasibility Study Report 2018
Press Release 2018
Quarterly Report 2018
Corporate Presentation 2017
Press Release 2017
Corporate Presentation 2016
Subscription required - Subscription is required.

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