
Mirabela’s primary focus is the 100% owned Santa Rita nickel sulphide deposit, located in Bahia, Brazil. This is the world’s largest greenfield nickel sulphide discovery in over a decade.
The mine is comprised of an open-cut mine and a concentration plant to produce a mixed nickel-copper-platinum-cobalt sulphide concentrate for sale and shipment to third party smelters.
Construction of the mine and processing infrastructure is complete, commissioning is underway and delivery of nickel concentrate to Votorantim has commenced.
The Caterpillar mining fleet is owner-operated and financed by a fleet financing agreement with Caterpillar Financial Services. Bulk mining methods are deployed using 100t and 150t trucks (Caterpillar 777 and 785s) combined with Terex O&K RH90 and RH120 excavators and Caterpillar 982 loaders.
Ramp-up to the plant's current name-plate capacity of 4.6Mtpa is expected during Q2 2010 and Mirabela's production guidance for 2010 is forecast at between 10,500 to 12,500 tonnes of nickel in concentrate.
Nickel processing will be via a conventional flotation circuit, using proven sulphide flotation methods as follows:
The installation of a second ball mill will increase the mill's operating capacity to 6.4Mtpa and production of 26,000tpa of nickel in concentrate.
An operating licence has been granted for the Santa Rita mine and all plant facilities by the Brazilian environmental authorities.
The Company has agreements to sell 100% of production to two off-take partners until end 2014: Norilsk Nickel, the world’s largest nickel producer and Votorantim Metals, a Brazilian mining company with a smelter in Brazil. Half of the concentrate product will be trucked 1,350km directly to the Votorantim smelter in at Fortaleza de Minas, Brazil and the other half will be shipped to the Norilsk smelter at Harjavalta, Finland. Each partner will take 50% of all production and has provided US$50m in subordinated loans.
Santa Rita has excellent access to all key infrastructure and is located close to port and major service centres. Once in operation, Santa Rita will employ approximately 500 people directly and 1,500 people indirectly, the majority of whom will be from the nearby local communities.
The Santa Rita mine is based on a world-class inventory of contained nickel resources, including 900,000 tonnes of open-pit and 690,000 tonnes in underground resources. It is a long life project, with 19 years of open-pit reserves and a low cost structure.
Santa Rita Proven and Probable Reserves
(As announced November 2008)
|
JORC Reserve |
Mt |
Ni |
Cu |
Co |
Pt (ppb) |
|
Proven |
15.1 |
0.65% |
0.16% |
0.017% |
108 |
|
Probable |
105.9 |
0.59% |
0.16% |
0.015% |
89 |
|
Total |
121.0 |
0.60% |
0.16% |
0.016% |
91 |
The Reserve estimate is based upon the Potential Mill Feed Resource Estimate (pit optimised resource) announced in September 2008 as follows: