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Ivanhoe Electric has completed its earn-in to acquire a 60% interest in the Samapleu-Grata nickel-copper project in Côte d’Ivoire after satisfying the expenditure requirements outlined in an agreement from three years ago.
The PEA demonstrated the potential for a 16-year open-pit mine producing copper concentrates of 38,627 tonnes and nickel concentrates of 55,119 tonnes a year, with associated byproducts such as platinum and palladium. Using a long-term nickel price of $8.83/lb. and copper price of $3.99/lb., the study calculated a post-tax net present value of $257 million and an internal rate of return of 22.3%. The initial capital cost is $338 million.
These project economics only included the Grata, Main and Extension deposits and the Sipilou Sud laterite deposit, which together cover just 3% of the 835 kmThis, according to Ivanhoe, provides ample opportunities for exploration upside and expansion opportunities, including at known mineralized zones at Yepleu and Draba.
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