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Canada
Dumont Project

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 Location:
25 km NW from Amos, Quebec, Canada

  Project Contacts:
42 Rue Trudel
Amos
Quebec, Canada
J9T 4N1
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
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  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Nickel
  • Cobalt
  • Palladium
  • Platinum
Mining Method
  • Truck & Shovel / Loader
Mine Life30 years (as of Jan 1, 2019)
Dumont Nickel-Cobalt project is a fully permitted, construction-ready mine, which contains one of the world’s largest undeveloped reserves of nickel and cobalt.


Owners

Source: p. 4
CompanyInterestOwnership
Waterton Global Resource Management Inc. 100 % Indirect
The Dumont Project is 100% owned by Magneto Investments L.P. along with all associated assets, permits and agreements.

Waterton Global Resource Management, Inc. is the advisor to the two private funds (Waterton Precious Metals Fund II Cayman, LP and Waterton Mining Parallel Fund Onshore Master, LP) which jointly own 100% of Magneto Investments L.P.

Contractors

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Deposit Type

  • Magmatic
  • VMS


Summary:

Magmatic nickel-copper-platinum group element (PGE) deposits occur as sulphide concentrations associated with a variety of mafic and ultramafic magmatic rocks. The magmas originate in the upper mantle, and an immiscible sulphide phase occasionally separates from the magma as a result of the processes occurring during emplacement into the crust. The sulphide phase generally partitions and concentrates nickel, copper and PGE elements from the surrounding magma. The heavy sulphide droplets once concentrated and separated from the magma tend to sink towards the base of the magma, and form concentrated pockets or layers of sulphides that crystallize upon cooling to form mineral deposits.

The Dumont mineral deposit comprises olivine + sulphide cumulates that comprise differentiated layers of the Dumont sill, an Archean komatiitic intrusion contained within the Archean Abitibi Greenstone Belt of northwestern Quebec. As such, it is usually classified (Naldrett, 1989) with its most analogous counterpart, the Mt. Keith mineral deposit located in the Agnew-Wiluna Greenstone Belt within the Archean Yilgarn craton of West Australia.

Nickel-bearing sulphides and a nickel-iron alloy are enriched (grades > 0.35% nickel) in stratiform bands within the dunite subzone and are also broadly disseminated at lower concentrations throughout the dunite and lower peridotite subzones. The number and thickness of these bands varies from place to place in the deposit. Nickel sulphid ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Dumont pit will ultimately measure approximately 4.9 km along strike, 1.4 km at the widest point and reach a maximum depth of 520 m below surface. A total of 2,080 Mt of material will be excavated, using large surface mining equipment that will operate at high production rates.

The pit is comprised or three distinct areas:

• The “Quarry”, at the south east limit of the deposit hosts the only outcrop and is thus where mining initiates. The Quarry is initially excavated to a volume of approximately 5 Mm3 and serves as contingent storage for water during the period the Main Pit is operational. Following completion of operations in the Main Pit, the Quarry is expanded to its full limits of approximately 30 Mm3.
• The “South-East Extension” (SEE), measures approximately 92 Mm3. Development of the SEE commences immediately following that of the Quarry, from which it is separated by a saddle of rock. After the SEE reaches its final limits, it is backfilled to just below surface with waste rock from the Main Pit.
• The “Main Pit” represents approximately 85% of the total excavation.

The ore body is covered with overburden of varying depth. Overburden, which comprises 8.3% of the total material that will be excavated, is comprised of differing material types. Overburden will be stripped in advance of the ore mining operation and impounded in different areas depending on the geotechnical parameters of the specific material type. Waste roc ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityProductUnitsLOM
Nickel Payable metal M lbs 2,402
Nickel Metal in concentrate M lbs 2,625

Operational Metrics:

Metrics
Stripping / waste ratio 1.02 *
Waste tonnes, LOM 1,052 Mt *
Ore tonnes mined, LOM 1,028 Mt *
Total tonnes mined, LOM 2,080 Mt *
Tonnes milled, LOM 1,028 Mt *
Daily processing capacity 105 kt *
* According to 2019 study.

Reserves at May 30, 2019:
Mineral Reserves: Reported at a cut-off grade of 0.15% nickel inside an engineered pit design based on a Lerchs-Grossmann (LG) optimized pit shell using a nickel price of US$4.05 per pound, average metallurgical recovery of 43%, marginal processing and G&A costs of US$4.10 per tonne milled, long-term exchange rate of C$1.00 equal US$0.75, overall pit rock slopes of 40° to 50° depending on the sector, and a production rate of 105 kt/d.

Mineral Resources: Reported at a cut-off grade of 0.15 percent nickel inside conceptual pit shells optimized using nickel price of US$7.50 per pound, average metallurgical and process recovery of 43 percent, processing and G&A costs of US$4.33 per tonne milled, exchange rate of C$1.00 equal US$0.77, overall pit slope of 42 degrees to 50 degrees depending on the sector, and a production rate of 105,000 tonnes per day

CategoryTonnage CommodityGradeContained Metal
Proven 163,140 kt Nickel 0.33 % 1,174 M lbs
Proven 163,140 kt Cobalt 114 ppm 41 M lbs
Proven 163,140 kt Palladium 0.031 g/t 162 koz
Proven 163,140 kt Platinum 0.013 g/t 67 koz
Probable 864,908 kt Nickel 0.26 % 4,908 M lbs
Probable 864,908 kt Cobalt 106 ppm 202 M lbs
Probable 864,908 kt Palladium 0.017 g/t 466 koz
Probable 864,908 kt Platinum 0.008 g/t 220 koz
Proven & Probable 1,028,048 kt Nickel 0.27 % 6,082 M lbs
Proven & Probable 1,028,048 kt Cobalt 107 ppm 243 M lbs
Proven & Probable 1,028,048 kt Palladium 0.019 g/t 627 koz
Proven & Probable 1,028,048 kt Platinum 0.009 g/t 287 koz
Measured 372,100 kt Nickel 0.28 % 2,310 M lbs
Measured 372,100 kt Cobalt 112 ppm 92 M lbs
Measured 372,100 kt Palladium 0.024 g/t 288 koz
Measured 372,100 kt Platinum 0.011 g/t 126 koz
Indicated 1,293,500 kt Nickel 0.26 % 7,441 M lbs
Indicated 1,293,500 kt Cobalt 106 ppm 302 M lbs
Indicated 1,293,500 kt Palladium 0.017 g/t 720 koz
Indicated 1,293,500 kt Platinum 0.008 g/t 335 koz
Measured & Indicated 1,665,600 kt Nickel 0.27 % 9,750 M lbs
Measured & Indicated 1,665,600 kt Cobalt 107 ppm 394 M lbs
Measured & Indicated 1,665,600 kt Palladium 0.02 g/t 1,008 koz
Measured & Indicated 1,665,600 kt Platinum 0.009 g/t 461 koz
Inferred 499,800 kt Nickel 0.26 % 2,862 M lbs
Inferred 499,800 kt Cobalt 101 ppm 112 M lbs
Inferred 499,800 kt Palladium 0.014 g/t 220 koz
Inferred 499,800 kt Platinum 0.006 g/t 92 koz

Commodity Production Costs:

CommodityUnitsAverage
Site cash costs (produced) Nickel USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Nickel USD  ......  Subscription required&nbs
C1 cash costs Nickel USD  ......  Subscription required&nbs
All-in costs Nickel USD  ......  Subscription required&nbs
Assumed price Palladium USD  ......  Subscription required&nbs
Assumed price Platinum USD  ......  Subscription required&nbs
Assumed price Cobalt USD  ......  Subscription required&nbs
Assumed price Nickel USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
OP mining costs ($/t milled) CAD 3.82 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Expansion CapEx $M USD  ......  Subscription required
Equipment leasing costs $M USD  ......  Subscription required
Working capital $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 4,009
G&A costs $M USD 419
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of May 30, 2019:
HME TypeModelSizeQuantityLeased or
Contractor
Backhoe ....................... Subscription required 6 cu. m ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
....................... Subscription required ....................... Subscription required Subscription required Jul 11, 2019
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsYear
Subscription required Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
................................... Subscription required 2020
................................... Subscription required 2019
Feasibility Study Report 2013
Other 2013
Technical Report 2013
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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