Categories

Overview

Mine TypeOpen Pit
StageConstruction
Commodities
  • Iron Ore
  • Titanium
  • Heavy Minerals
  • Zircon
  • Silica
Mining Method
  • Dry mining
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Mine Life... Lock
SnapshotThe Orokolo Bay Industrial Sands Project is the primary Project within Mayur's industrial sands portfolio.

Titano-magnetite is a key product in Orokolo Bay project. In addition, and as by-products to the processing of titano-magnetite, a zircon heavy mineral concentrate and a silica construction sand.

The Orokolo Bay Project is fully permitted. As at February 2025, construction and procurement activities have already commenced, funded by Pacific Unison Holdings.

Commitment of up to USD 11.2 million from Pacific Unison, which is expected to fully fund the construction and commissioning of the Orokolo Bay Project magnetite only plant, with targeted commencement of production in in the near future with an annual output target of 500,000 tonnes of magnetite.
Latest NewsMayur Resources Limited: Development Funding Secured for Orokolo Bay Industrial Sands Project     February 10, 2025

Owners

SourceSource
CompanyInterestOwnership
Mayur Resources Ltd. 100 % Indirect
Mayur Resources Ltd. owns 100% of the Orokolo Bay Project through its wholly owned subsidiary, Mayur Iron PNG Limited.

Contractors

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Deposit type

  • Placer
  • Mineral sands

Summary:

Orokolo Bay Project is situated within the sedimentary Papuan Basin of PNG.

The Orokolo Bay Resource comprises a series of semi-parallel preserved ESE-WNW striking narrow but strike-extensive multiple palaeo-strandline deposits formed by a combination of wave and aeolian action which dumps, then concentrates the heavy minerals (vanadium titanomagnetite and zircon) on the beach fore-dune. Other minerals present in small quantities are rutile, ilmenite, apatite, pyroxene, garnet, and silica sands.

The source of the magnetite is believed to be basaltic and andesitic volcanic rocks, the erosional products from which are transported down drainages to the coast where they are deposited and reworked by coastal wave and wind action.

In summary the 6 main layers identified within the sequence are in the following sequential order. Soil, Fine grained sands, Medium-fine sands, Coarse gritty sands, Clays, Bedrock.

Mineralisation
Mineralisation is generally confined to the upper 2-2.5m of the soil/sand profile as loose sand grains, but significant mineralisation can occur in swamp areas beneath the swamp itself and on the dune ridges. Sand size is generally <1mm with a combination of fully liberated and interlocked mineral grains. The mineralisation of economic interest from the recovered magnetic fraction occurs primarily astitanomagnetite with ilmenite, Ti-oxide phases and Fe oxides including hematite and alteration products. Significant zircon is contained in the non-magnetic fraction of the heavy mineral concentrate.

Dimensions
Mineralisation is flat-lying.

Mineralisation in the western section has a strike length of 25km on a 120" direction with an overall average width of 2.5km.

The individual strandlines can vary from 100m to over 20km in strike length.

The width of the individual mineralised zones varies from 10 to 80m wide, while the depth varies from 0.5 to 4.5m, averaging 2-2.5m in thickness, and lying on average 0 to 1m below the current land surface, often with minimal soil cover.

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. Annual
Iron (magnetite) Concentrate kt 100
Zircon Concentrate kt 8
Silica Sand Mt 1
VTM Concentrate kt 400

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Assumed price VTM USD  ....  Subscribe
* According to 2024 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Expansion CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 77.1
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  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 Feb 16, 2025
....................... Subscription required ....................... Subscription required Subscription required Feb 16, 2025

Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2025

Aerial view:

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