Construction will commence immediately, with first production scheduled for the second half of CY 2022. Coburn is 100%-owned by Strandline. The Coburn updated Definitive Feasibility Study (DFS), released in mid2020, confirmed robust economics over an initial 22.5-year life, with a pre-tax NPV of
The projected revenue for the initial 22.5 years of Ore Reserves is
The Company has five major binding offtake contracts in place for 95% of Coburn's forecast mineral sands production, estimated at
Strandline Managing Director
'Coburn will also provide significant public benefit, employment and new business opportunities as well as export income for the nation. 'Coburn is expected to generate 300 direct jobs during the construction phase and secure 150 jobs during operations over a multi-decade mine life.' The Coburn mine life currently sees mining continue until 2045 (based on mining the initial 22.5-year JORC compliant Ore Reserves), with the potential to extend to 2060 (total 37.5 years mine life) by converting Mineral Resources which exist immediately north and along strike of existing Ore Reserves.
Coburn is predicated on conventional mining and rehabilitation methods combined with state-of-the-art processing and power generation technology (including renewable energy) to effectively recovery high-quality mineral sands products. In preparation for execution, the Company has recently awarded a series of major contracts to high-calibre contractors covering approximately 80% of the construction scope, with procurement advancing for the remaining project activities in accordance with the development plan.
Strandline and its contractors are committed to building a highly efficient and sustainable mining operation. The project is set to generate significant public benefit including job creation, high Australian industry participation, new local business and indigenous engagement opportunities, as well as capital inflows for
For more information on the Coburn project refer to the ASX Announcement dated
ABOUT STRANDLINE
Strandline's strategy is to develop and operate high margin, expandable mining assets with market differentiation and global relevance in the sector. Strandline's project portfolio contains high quality assets which offer a range of development options and timelines, geographic diversity and scalability. They include the world-scale
Contact:
Tel: +61 8 9226 3130
Email: enquiries@strandline.com.au
FORWARD LOOKING STATEMENTS
This report contains certain forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside of the control of Strandline. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay, approvals and cost estimates. Actual values, results or events may be materially different to those contained in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this announcement reflect the views of Strandline only at the date of this announcement. Subject to any continuing obligations under applicable laws and ASX Listing Rules, Strandline does not undertake any obligation to update or revise any information or any of the forward looking statements in this announcement to reflect changes in events, conditions or circumstances on which any forward looking statements is based.
(C) 2021 Electronic News Publishing, source