Privately funded Alliance Mining Commodities has announced that it will cost USD 812 million to develop its Koumbia bauxite project in Guinea West Africa.
The Perth based miner released the results of its definitive feasibility study for the Koumbia project which flagged commencement of production in 206 ramping up to full capacity in 2018.
The Koumbia project comprises a high grade bauxite resource at 305 million tonnes at 48 per cent, which is sufficient to underpin 40 year mine life. Mine, rail and port capital expenditure will come in at $812 million with the funds to be repaid within 5 years. AMC has forecast life of mine revenue to exceed USD 7 billion. Operating costs are expected to be around USD 11 per tonne.
Mr Bob Adam MD of Alliance Mining said that “The delivery of the definitive feasibility study represents the culmination of more than six years of work by our teams in Guinea and Australia. We have established a very strong technical team with a strong understanding and detailed experience of in country processes, solid relationships with the government and significant experience in project management and resource development.”
