Mining Intelligence and News
Brazil

Tres Estradas Project

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Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Phosphate rock
  • Phosphate
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
Mine Life... Lock
SnapshotThe Tres Estradas Project has completed environmental permitting and received a Licence in August 2019, followed by a Construction Licence in November 2022. Since July 2021, there has been an application for an injunction lodged with the Brazilian Federal Public Prosecutor’s Office that has stalled the Project. However, the Aguia is considering lower cost, faster alternative development proposals.

On 21 March 2023, Aguia released an updated Bankable Feasibility Study (BFS) on the Tres Estrades Phosphate Project that confirmed the robust economics for the 18 year mine life. According BFS, only saprolite rock will mined and Direct Application Natural Fertilizer (DANF) will be produced.

There exists the possibility for acquisition and repurposing of existing treatment plant as an alternative to constructing a new treatment facility. The treatment plant is located within trucking distance of the Tres Estrades deposit. It would enable a much shorter time frame to achieve production.

Owners

SourceSource
CompanyInterestOwnership
Aguia Resources Ltd. 100 % Indirect
Aguia Resources holds 100% interest in the three mineral rights permits covering the Três Estradas Phosphate Project area.

Contractors

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Deposit type

  • Carbonatite hosted
  • Intrusion related
  • Saprolite

Summary:

The Três Estradas deposit consists of an elongated carbonatite intrusion with a strike of 50° to 60° similar to that of the Cerro dos Cabritos Fault. Shear sense indicators suggest a sinistral sense of motion along this fault. The carbonatite and amphibolite form a tightly folded sequence with limbs dipping steeply from 70° to vertical (90°). The surface expression of the intrusion is approximately 2.5 km along strike with a width of approximately 300m.

With the exception of meta-syenite along its northeast and southeast boundaries, the carbonatite is surrounded by biotite gneiss of the SMCGC. The carbonatite is tightly folded and strongly foliated, resulting in a well-developed gneissic texture. Locally, abundant subparallel quartz veins are present resulting in elevated topographic ridges as the quartz is more resistant to weathering than the surrounding country rock. These veins range from a few centimetres to a couple of meters in width and can be up to 300m long. Also flanking the carbonatite is a minor unit of meta-tonalite with intercalated meta-carbonatite and amphibolite. The unit is characterized by gneissic banding, a grey-green colour on weathered surfaces and a recrystallized granular texture.

The carbonatite intrusion is characterized by varying amounts of amphibolite. Amphibolite and carbonatite bands alternate on a meter-to-millimeter-scale. Phosphate mineralization is disseminated and contained in apatite crystals throughout the carbonatite intrusion and in the overlying saprolite. Aguia’s current interpretation suggests that the carbonatite intrusion is formed from three magmatic phases that were later metamorphosed to an amphibolite assemblage.

Mineralization
Phosphate mineralization, occurring as the mineral apatite (Ca5(PO4)3(F,Cl,OH)), is the primary mineralization of economic interest at Tres Estradas. Apatite is the only phosphate-bearing mineral occurring in the carbonatites. At Tres Estradas, phosphate mineralization occurs in both fresh and weathered metacarbonatite and amphibolite. Phosphate also becomes highly enriched in the overlying saprolite.

Apatite is a common accessory mineral in carbonatite and ultramafic igneous deposits. The apatite forms submillimeter-sized, subhedral to euhedral crystals that are disseminated throughout the groundmass. Apatite crystals are pale in color, requiring care when observing fresh, unaltered rock. In weathered rock, apatite is resistive to weathering relative to the carbonate matrix, making then easier to identify with a hand lens.

Calcite is the primary carbonate mineral at Tres Estradas and accounts for approximately 60% of the mass of the carbonatite.

Carbonatites are typically complex, multi-phase intrusions with subsequent phases showing signs of fractionation. Apatite along with anatase and magnetite tends to be dominant in early phases of an intrusion while later phases of intrusion tend to be dominated by higher concentrations of niobium and rare-earth elements. Aguia geologists have noted up to three distinct phases within the cores from the Tres Estradas Phosphate Project.

Dimensions
Mineralization has an approximate strike length of 2,400m and extends to a depth of 370m below surface. Mineralized zones range in thickness from 5m to 100m.

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

CommodityProductUnitsAvg. AnnualLOM
P2O5 DANF kt 5,183
Phosphate Fertilizer t 316,000

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual milling capacity  ....  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
Cash costs Phosphate rock AUD  ....  Subscribe
Assumed price Phosphate rock AUD  ....  Subscribe
* According to 2023 study / presentation.

Operating Costs

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

Project Costs

MetricsUnitsLOM Total
Total CapEx $M AUD  ......  Subscribe
OP OpEx $M AUD  ......  Subscribe
Processing OpEx $M AUD 91.4
G&A costs $M AUD 26.1
Total OpEx $M AUD  ......  Subscribe
Royalty payments $M AUD  ......  Subscribe
Gross revenue (LOM) $M AUD  ......  Subscribe
EBITDA (LOM) $M AUD  ......  Subscribe
Net Income (LOM) $M AUD  ......  Subscribe
After-tax Cash Flow (LOM) $M AUD  ......  Subscribe
After-tax NPV @ 10% $M AUD  ......  Subscribe
After-tax IRR, %  ......  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 Mar 21, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 15, 2024
....................... Subscription required ....................... Subscription required Subscription required Mar 21, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2024

Aerial view:

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