• Data Access
  • Your Email  
  • Your Email  
Keep me signed in.
Forgot your password?
Close
  • Forgot Your Password?
  • Enter the email you signed up with and we'll email it to you.
  • Your Email  
Close
Back
MDO
Mining Data Solutions
  • Home
  • Database
  • Subscribe
  • Sign In
  • Sign In
Finland
Mustavaara Project

This page is not tailored to
devices with screen width under 750 px.
 Location:
53 km SW from Kuusamo, Finland

  Project Contacts:
410 - 625 Howe Street
Vancouver
British Columbia, Canada
V6C 2T6
Phone  ...  Subscription required
Fax+1-604-687-7041
EmailEmail
WebsiteWeb
Additional Resources for Suppliers & Investors
Drill results over 30 g/t Au
Stay on top of recent discoveries.
Search drill results by commodity and grade.
Largest mines in the Americas
Mining and mill throughput capaciites.
Full profiles of select mines and projects.
Deepest underground mines
Shaft depth and mill throughput data.
Full profiles of select mines and projects.
Heavy mobile equipment
HME type, model, size and quantity.
Full profiles of select mines and projects.
Permitting and construction projects
Projects at the permitting or construction stage. Full profiles of select projects.
Mines with remote camps
Camp size, mine location and contacts.
Full profiles of select mines and projects.
Mines & projects in Finland
A list of country's mines and projects.
Full profiles of select mines and projects.
  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

Thank you for browsing through mine profiles compiled by the Mining Data Online team.

Would you like to subcribe or schedule a Demo?
  • Name:
     
  • Company:
     
  • Position:
     
  • Phone:
  • Email:
  • Message:

Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Iron
  • Vanadium
Mining Method
  • Truck & Shovel / Loader
Mine Life20.25 years (as of Jan 1, 2021)
Key permit and environmental monitoring work is ongoing at Mustavaara.
Latest NewsStrategic Resources Closes Convertible Notes     January 23, 2023


Owners

Source: p. 21
CompanyInterestOwnership
Strategic Resources Inc. 100 % Indirect
On February 10 th 2020, Strategic Resources Inc. announced that it had successfully applied for Reservations over the Mustavaara mine area. The company also acquired all of the intellectual property together with the core samples from the 2011 drill campaign and storage facilities associated with Mustavaara from the bankruptcy estate of Ferrovan Oy (Strategic Resources, 2020).
The Mustavaara project consists of three exploration reservations and has a surface extent of 2,660 hectares. All reservations have been approved by Finnish Safety and Chemicals Agency (Tukes) and are valid until February 9 th , 2022.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Magmatic
  • Intrusion related


Summary:

The Mustavaara deposit is characteristic of a vanadiferous titanomagnetite deposit (VTM), which are typical mafic layered intrusions.

Mustavaara magnetite gabbro lies in the upper part of the Porttivaara intrusion (part of Koillismaa igneous complex) where it forms a coherent layer following the general layering of the intrusion. The magnetite gabbro is plagioclaseaugite-ilmenomagnetite adcumulate with sharp lower contact and gradual upper contact which is characteristic for VTM deposits.

The Mustavaara deposit is a vanadium bearing magnetite gabbro horizon which is part of a large mafic layered intrusive complex, known as the Koillismaa Layered Igneous Complex. The age of the intrusion is approximately 2,400 to 2,500 Ma. This sheet like body intruded into the Archean basement as a single body with a total length of 100 km and a thickness of up to 3 km. This body has separated into at least 5 distinct large blocks due to later folding and faulting. The block containing the Mustavaara deposit is the Porttivaara Block, with a total approximate length of 19 km.

The layered intrusion is divided into a marginal series (50 to 250 m thick) at the base and a thick layered series (up to 2,500 m thick) making up the bulk of the intrusion. The layered series is mainly composed of norites, gabbronorites, leucogabbros and anorthosites. The ore- bearing Mustavaara magnetite-gabbro occurs in the upper part of the layered series, surrounded by anorthosite ro ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mine design and mine planning for Mustavaara project is based on the Mineral resource estimate. The Mustavaara deposit mine plan was developed based on the assumption that the mine is operated by an owner operated fleet. The selected conventional truck and shovel excavation is a commonly used mining method in Finland and there is a widely available skilled work force. The mining will start by expanding the existing open pit to west and eventually the maximum open pit dimensions are reached by utilizing a one ramp configuration in the open pit.

A detailed hydrological study has not yet been performed and it is recommended to be done in the next project phase. The created life of mine plan (LOM) supports approximately 20 years of production at Mustavaara. The planned annual mining rate is 3.25 Mt of processed material and the total strip ratio during the life of mine is 1.7. Waste rock mining varies between 4.2 to 7.5 Mt during the main production period.

The open pit optimization results that were used as a base for mine design are based on Measured, Indicated and Inferred mineral resources. The Company further cautions that the PEA is preliminary in nature. No detailed mining study has been completed to support reserve estimation.

The designed open pit is 1,935 meters long (SW–NE) and 435 meters wide (NW–SE). The maximum depth of the pit is 199 meters, calculated from the top of the existing ramp.


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Iron Metal in concentrate kt 5,676
Vanadium Metal in concentrate kt  ......  Subscription required
Iron Pig kt 329
Ferrovanadium FeV80 t  ......  Subscription required
Iron (magnetite) Concentrate kt  ......  Subscription required
Titanium dioxide Slag kt  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required
Daily processing rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at September 14, 2020:
The cut-off grade used for Mineral Resources estimates is 11% Magnetite.

CategoryTonnage CommodityGradeContained 
Commodity
Measured Mt Iron 6,244 kt
Measured Mt Vanadium 90 kt
Measured Mt Titanium 370 kt
Measured 64 Mt Iron (magnetite) 63.3 %
Indicated Mt Iron 3,805 kt
Indicated Mt Vanadium 53 kt
Indicated Mt Titanium 214 kt
Indicated 39.7 Mt Iron (magnetite) 62.8 %
Measured & Indicated Mt Iron 10,049 kt
Measured & Indicated Mt Vanadium 143 kt
Measured & Indicated Mt Titanium 584 kt
Measured & Indicated 103.7 Mt Iron (magnetite) 63.1 %
Inferred Mt Iron 3,971 kt
Inferred Mt Vanadium 59 kt
Inferred Mt Titanium 239 kt
Inferred 42.2 Mt Iron (magnetite) 62.3 %

Commodity Production Costs:

CommodityAverage
Credits (by-product) Ferrovanadium  ......  Subscription required&nbs
Cash costs Ferrovanadium  ......  Subscription required&nbs
Credits (by-product) Iron  ......  Subscription required&nbs
Cash costs Iron  ......  Subscription required&nbs
Total cash costs Ferrovanadium  ......  Subscription required *†
Total cash costs Iron  ......  Subscription required *†
All-in sustaining costs (AISC) Ferrovanadium  ......  Subscription required *†
All-in sustaining costs (AISC) Iron  ......  Subscription required *†
Assumed price Ferrovanadium  ......  Subscription required *
Assumed price Titanium dioxide  ......  Subscription required *
Assumed price Iron  ......  Subscription required *
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) EUR 2.2 *
OP mining costs ($/t milled) EUR  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M EUR  ......  Subscription required
Sustaining CapEx $M EUR  ......  Subscription required
Total CapEx $M EUR  ......  Subscription required
OP OpEx $M EUR  ......  Subscription required
Processing OpEx $M EUR 2,197
Freight costs $M EUR 179.3
G&A costs $M EUR 81.5
Total OpEx $M EUR  ......  Subscription required
Gross revenue (LOM) $M EUR  ......  Subscription required
Pre-tax Cash Flow (LOM) $M EUR  ......  Subscription required
After-tax Cash Flow (LOM) $M EUR  ......  Subscription required
Pre-tax NPV @ 8% $M EUR  ......  Subscription required
After-tax NPV @ 8% $M EUR  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of May 4, 2021:
HME TypeModelSizeQuantity
Backhoe & Rock Breaker ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 4, 2021
....................... Subscription required ....................... Subscription required Subscription required Jul 5, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

News:

NewsDate
Strategic Resources Closes Convertible Notes January 23, 2023

Subscription required - Subscription is required.

Terms of Use Privacy Policy © 2017-2023 MDO Data Online Inc.