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$90 Million for the Niobec Mine
Mining company IAMGOLD plans to invest $90 million in the infrastructure of the Niobec mine in Saint-Honoré. The funds will also cover the cost of studies conducted as part of its expansion project to triple ore mining capacity in the years ahead.
Reproduced by kind permission of mining company IAMGOLD
The company has published projected expenditures for its facilities around the world. These expenditures include projects at the niobium mine, which is the focus of studies looking at transforming a traditional underground mine into an open-pit or block-cave mine. The company’s aim is to process a larger amount of ore to capitalize on a growing demand for ferroniobium worldwide
Projects Under Way
Mélanie Duguay, company spokeswoman in the region, says expenditure projections for Saint-Honoré refer strictly to sums needed for projects currently under way. They don’t reflect a final decision on the technology to be used to triple the mining capacity.
“By the end of the first quarter, we’ll have the findings of the pre-feasibility study on the best choice available to the company,” Duguay says. “We can then decide on either open-pit mining or block caving.”
After publishing pre-feasibility studies, the company will move on to the final stage, which includes engineering studies, environmental studies and final technological decisions.
Source: Le Quotidien, January 18, 2012