Sudbury nickel junior miner posts preliminary economic assessment for pit and underground operation
Sudbury’s Magna Mining has tabled an economic and technical report to bring a former Inco nickel mine back into production.
There remains untapped mineral potential with nickel, copper, cobalt, platinum, palladium and gold still in the ground, the kind of commodities that gets the battery and electric vehicle industries charged up. Underground mining will involve driving a new ramp from surface to tie into an existing shaft that needs to be rehabilitated and upgraded for production. Surface operations will involve conventional truck and shovel mining.
The PEA shows the project economics look “strong” if they farm the processing out to someone to do. If they process their own minerals, the economics are “exceptional.”
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