09:35 | Lima, Sep. 23 (ANDINA).
Canadian company GrowMax Agri Corp. today announced that it has completed the pre-feasibility study for its potash project at Bayovar, Peru in the Sechura desert.
According to the pre-feasibility study, the project will use low-cost Solar Evaporation Technology similar to Israel Chemicals Ltd. and Arab Potash Company in the Dead Sea, and Compass Minerals International Inc. and Intrepid Potash, Inc. in Great Salt Lake, Utah, USA.
Its average annual production will be 250,000 metric tonnes of potash fertilizer while the total estimated project capital cost amounts to US$125 million. Unit operating costs total US$29.62 per metric tonne (excluding transportation to port).
Transportation to port is expected to be $3.26 per metric tonne and production bonus royalties of $33.00 per metric tonne are payable to each of the Peru government and the local Community. Accordingly, the total cash cost per metric tonne, delivered to port, is expected to be $98.88.
Salt will be produced as a co-product and is expected to be a source of additional cash flow.
Barclay Hambrook, President and CEO stated, "The completion of this Pre-Feasibility Study is a major milestone for GrowMax's Bayovar project and we anticipate moving swiftly towards completion of a full Feasibility Study." Mr. Hambrook went on to say, "Based on the capex and opex cost structure in the Pre-Feasibility Study, the project net present values are very exciting at even the most modest of selling price assumptions - and this doesn't include other possible products such as phosphates, bromine and calcium sulphate."
The pre-feasibility study was completed by the Lac Business Group, led by Luis Coronel. Mr. Coronel is a Chemical Engineer with over 40 years experience worldwide (including Australia, Brazil, China, Mexico, Peru, India, Venezuela, and the USA) in all aspects of analysis, planning, design, engineering, project management and implementation of solar evaporation technology for processing of brines for producing potash, salt and chemical by-products.
(END) EEP
Publicado: 23/9/2010