We talk to Hayden Locke who is the CEO of Emmerson PLC about the announcement of their RNS this morning and what it means for the company and news to follow.
- Mining horizon proposed to be accessed by twin declines constructed using underground mining machinery, which will later be used in mining production
- Direct capital cost estimate of mine access component approximately US$35m including 30% contingency, with potential to save upfront capital by using contract miners to complete works
- Estimated capital cost saving of over 95%, or over US$1bn, relative to average Canadian potash mine development
- This cost would place the Khemisset Potash Project in the lowest 10% for mine access cost for potash developments globally
- Design and estimate completed by independent engineering group, Golder Associates (“Golder”), according to AusIMM guidelines for capital cost estimates
- Enhances Management’s strong belief in potential for Khemisset to be a low capital cost potash mine development
- The preliminary design and cost estimates for the mine access is the first Scoping Study deliverable for the Khemisset Potash Project, which is set to be delivered in Q1 2019
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