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Canadian mineral development firm eyes $60M lithium project
Toronto-based Avalon Advanced Materials has unveiled an updated preliminary economic assessment for its Separation Rapids lithium project in Canada, with plans to produce 475,000 tonnes per year.
"The upfront capital expenditure requirement is C$77.7 million with a further C$13.7 million planned for the feldspar circuit in Years 5/6 (or once payback of the initial capital is complete)," the mineral development company said in a statement.
In its PEA from 2016, Avalon Advanced Materials estimated that the project could have a throughput of some 950,000 tonnes per year. The latest version of the document assumes a 20-year operating life, resulting with an annual production of 71,500 tonnes of petalite concetrate, 11,800 tonnes of lepidolite concentrate, and, starting in the sixth year, 100,000 tonnes of feldspar, according to data released by the Canadian firm.