Peru

Bayovar 12 Project

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Categories

Overview

Mine TypeOpen Pit
StatusInactive / Suspended
Commodities
  • Phosphate rock
  • P2O5
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock

Owners

SourceSource
CompanyInterestOwnership
Waroona Energy Inc. 70 % Indirect
In March 2015, the Company’s Peruvian subsidiary, Agrifos Peru S.A.C. completed a purchase agreement with the shareholders (the “Vendors”) of Juan Paulo Quay S.A.C. (JPQ), titleholder of the Bayovar 12 phosphate mining concession (the “Bayovar 12 Project”) located in Northern Peru, whereby the CROPS acquired a 70% interest in shares of JPQ (the “Bayovar Interest”).

During the period ended June 30, 2020, CROPS and the Vendors began a process for JPQ to relinquish the Bayovar 12 Project.

The CROPS is currently taking the necessary steps to dissolve Juan Paulo Quay, SAC (“JPQ”), the Peru company which holds the Bayovar 12 concession, and to transfer the concession back to the Peru government.

Deposit type

  • Sedimentary

Summary:

The Bayovar-Sechura Phosphate Deposit occurs in the Sechura Basin, a shallow north trending basin situated in northwestern Peru. The basin is filled by a thick sequence of interlayered marine sediments including phosphorite, diatomite, sandstone, shale and volcanic tuff, ranging in age from Eocene (56.0 to 33.90 Ma) at the base to Pliocence (5.33 to 2.58 Ma) in the upper basin.

The phosphate bearing units occur in the upper 135 to 215 m of the Miocene (23.22 to 5.33 Ma) strata in the basin, within the Zapallal Formation. The phosphorite beds are comprised primarily of massively bedded phosphate pellets with lesser grains and fragments of diatoms, volcanic glass; evaporate salts; quartz; feldspar; sponge fragments; gypsum, mica flakes and organic matter. The phosphate is marine in origin and is generally in the form of the mineral francolite, a fluorhydroxycarbonate apatite.

The apatite is generally in the form of individual pellets although agglomerations of pellets, oolites, laminae, nodules and fragments of teeth, bones or shells are also present. The pellet grain size ranges from 0.4 to 2.0 mm in diameter, with larger pellets occurring in the phosphorite beds while finer grained pellets occur in the diatomite.

The diatomite ranges in color from white to brown to olive green. The diatomite generally has high porosity, often on the order of 90%; as a result of this and its resistance to compaction, the specific gravity is very low, typically the wet density is around 1.5.

The Zapallal Formation stratigraphy dips gently to the east within the Bayovar 12 Concession. No faulting or folding was identified within the concession.

Focus has intercepted 16 distinct and correlatable phosphorite beds (identified as PH01 through PH16) across the concession. Focus and Golder have interpreted the upper 13 phosphorite beds (PH01 to PH13) as Diana ore zone beds that have been modeled as mineral resources. The phosphorite beds range in thickness from 0.31 meters to 1.76 meters. The individual phosphorite beds exhibit relatively uniform thickness and P2O5 grade profiles across the concession; however, there is a pronounced zonation of P2O5 grades in both the phosphorite and diatomite beds that effectively divides the Diana ore zone into an Upper Diana ore zone and Lower Diana ore zone.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityUnitsAvg. AnnualLOM
All production numbers are expressed as concentrate.

Operational metrics

Metrics
Daily production capacity 2,740 dmt of phosphate rock concentrate *
Annual production capacity 1,000 kdmt of phosphate rock concentrate *
Stripping / waste ratio 7.19 *
Waste tonnes, LOM 422,541 kt *
Ore tonnes mined, LOM 58,772 kt *
Total tonnes mined, LOM 481,313 kt *
* According to 2016 study.

Production Costs

CommodityUnitsEstimated
Total cash costs Phosphate rock USD 60.2 / t *  USD
All-in sustaining costs (AISC) Phosphate rock USD 69.8 / t *  USD
Assumed price Phosphate rock USD 145 / t *  USD
* According to 2016 study / presentation.

Operating Costs

Currency2016
OP mining costs ($/t mined) USD 39.7 *  
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2016 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 165.7
Transportation (haulage) costs $M USD 208.8
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Net Income (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 0% $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 0% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 7.5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameRef. Date
....................... Subscription required ....................... Subscription required Oct 13, 2020

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