Latest news with #SRKConsulting
West Australian
7 days ago
- Business
- West Australian
Optimised Toro Energy scoping study powers up WA uranium economics
Toro Energy has supercharged the project financials for its Lake Maitland uranium project near Wiluna in Western Australia, unveiling an updated scoping study forecasting a low-cost, long-life mining operation. The latest numbers paint an encouraging picture for a standalone operation, improving its historic net present value (NPV) by 9 per cent to a hefty $908 million while slashing the project's payback period to 1.5 years. The updated study was driven by a refined resource estimate and re-optimised pit design, allowing for a robust internal rate of return of 56 per cent on an estimated capital expenditure of $298M. The study was completed by mining experts at SRK Consulting and metallurgical specialists Strategic Metallurgy to leverage a strong uranium price of US$85 (A$130) per pound and a vanadium price of US$5.67 per pound. The assumptions align with what the company believes is a bullish projected uranium market, buoyed by supply shortages, geopolitical tensions and growing demands for clean nuclear energy. Toro says its Lake Maitland project is forecast to produce 1.3 million pounds (Mlbs) of uranium and 0.75Mlbs of vanadium annually during a 16.3-year mine life, totalling a substantial 22Mlbs of uranium and 12.3Mlbs of vanadium. The company says its operating costs are a standout, with C1 cash costs pegged at just US$15.46 per pound of uranium in the first five years, rising to US$22.67 over the life of mine. The all-in sustaining costs are equally competitive at US$20.68 per pound initially and US$28.37 over the life of the mine. Total EBITDA is projected at a huge $2.33 billion, with undiscounted pre-tax cash flows of $1.96B, averaging $120M annually. The study builds on a re-estimated resource at Lake Maitland of 33.3Mt grading 403 parts per million (ppm) uranium oxide for 29.6Mlbs contained uranium and 50Mt at 285ppm vanadium oxide for 31.4Mlbs contained vanadium. The shallow hosted, clay-dominated resource contains both uranium and vanadium, with a strong 83 per cent correlation between the two, offering a strategic by-product bonus. Toro's mining plan is straightforward, using conventional open-pit truck-and-shovel methods with minimal drill-and-blast due to the unconsolidated clay host. The high-grade core will be mined first to maximise early cash flows. The company says it is confident it can secure traditional debt and equity financing thanks to its partnership with Japanese giants JAURD and ITOCHU, which could earn a 35 per cent stake in Lake Maitland for $60M upon a positive definitive feasibility study. Lake Maitland's low costs and high margins make it stand out in a tightening market, should ancient regulations around uranium mining in WA ever be lifted. With the scoping study complete and feasibility work on the horizon, Toro is charging towards project funding as it navigates political winds and, no doubt, hoping its Lake Maitland can cornerstone WA's uranium revival.
Zawya
27-05-2025
- Business
- Zawya
Integrating technical solutions with ESG to advance modern African economies
Good technical solutions lie at the heart of mining and industrial projects that are advancing modern African economies. Good technical solutions lie at the heart of mining and industrial projects that are advancing modern African economies says Andrew van Zyl, managing director of SRK Consulting (South Africa) This is according to Andrew van Zyl, managing director of SRK Consulting (South Africa), who emphasises the alignment with global standards as key to helping clients reach and maintain the highest level of performance and best practice in their operations. Africa Day (Sunday, 25 May) highlights the importance of building resilient economies for social transformation, and the nurturing of consulting engineering expertise across various disciplines will be vital to paving a path to inclusive growth. Evolving regulations 'Technical excellence and high standards rely on experienced and multidisciplinary teams of professionals who can deliver integrity, independence and rigour in their work.' 'When delivering good technical solutions, it is also crucial to consider the regulatory and community context, as these increasingly impact the final result,' he says. He notes, for instance, that a common theme in the industry is the rapidly evolving regulations relating to water, environment, sustainability and governance factors - including the rapid evolution of voluntary and compulsory reporting and requirements and the need for compliance and alignment. Companies like SRK are frequently involved in helping clients to update themselves on these requirements, and to apply them to planned projects to ensure alignment and compliance. Avoiding fatal flaws 'This invariably means the early involvement of environmental, social and governance (ESG) specialists who can work in close collaboration with various technical disciplines,' he explains. 'This lays the foundations for smooth and predictable permitting, so that projects can stay on schedule and avoid fatal flaws.' He points out that most of Africa's leading companies have ambitious sustainability targets, further reinforcing the need for multidisciplinary teams to include ESG professionals to ensure that technical solutions integrate with a range of sustainability concerns. Climate change 'Clients must also be able to monitor and measure their operations and interventions,' he says. 'With the application of digital and other technologies, consulting engineers are playing an important role in helping clients to gather relevant data and to use it to drive their sustainability agendas.' Climate change considerations are being factored into projects right from the design stage, so that future environmental conditions can be modelled and designs adjusted appropriately. There have been growing numbers of high rainfall events in South Africa, for example, which place additional strain on infrastructure. Professional platforms To foster the necessary expertise for high quality projects, professionals in various engineering and scientific disciplines are not only passing on their experience to younger entrants but are building their institutions for the good of broader society. Being a company of professional natural scientists and engineers, SRK Consulting (SA) belongs to various industry and professional bodies and contributes to the overall practice of the different professions. 'We are involved on the council of the Southern African Institute of Mining and Metallurgy, for instance, as well as on the committees that manage the SAMREC and SAMVAL reporting codes and bodies such as the Geological Society of South Africa (GSSA),' he says. 'We encourage our staff to get involved in professional organisations and events, especially knowledge sharing through talks and conferences. 'Through being active members of these bodies, we can help keep them relevant to industry needs through ongoing innovation and raising professional standards.' Helping standards evolve By promoting standards through its ongoing project work, SRK Consulting (SA) has been part of the process of guiding the practical application and evolution of standards. In terms of aspects such as reporting standards, its close collaboration with the relevant bodies means that it has a good understanding of how to apply these standards. This allows the company's professionals to provide important feedback from the market on how to keep requirements manageable and realistic. 'An interesting aspect of our work is that it often has not only a local component but a regional or even multi-national component,' he says. 'A mining project in the DRC will be driven by our Lubumbashi office but may draw in specialists from South Africa or Ghana. 'Where the owner of the project is based in China, our work may also involve experts from one of our offices in China.' Quality design Van Zyl acknowledges that there is considerable change and uncertainty in the market currently, but he highlighted that good engineering design underpins every successful project. Such design quality ensures cost-effective solutions that reduce waste and minimise risk to communities and staff. 'These factors remain a priority for clients throughout Africa, irrespective of the prevailing economic, social and political climate,' he says.
Yahoo
21-05-2025
- Business
- Yahoo
Greenhawk Options Its Greenland Properties and Cancels Outstanding Stock Options
TORONTO, May 21, 2025 (GLOBE NEWSWIRE) -- Greenhawk Resources Inc. ('Greenhawk' or the "Company") (CSE: GRHK) announces that it has executed an arms-length Option and Joint Venture Agreement (the 'Option Agreement') with 1531323 BC Ltd. ('1531323 BC') to advance the exploration and development of Greenhawk's Greenland properties, which include the Storø and Qingaaq mineral exploration licenses (the 'Properties'). Under the Option Agreement, 1531323 BC is granted an option to acquire an 80% interest in the Properties in exchange for: (a) an upfront payment of $100,000, which shall be paid within 90 days, and (b) incurring $1,400,000 in spending at the Properties within 24 months according to the following schedule. Payment Period Minimum Expenditures Within 6 months of the Closing Date Minimum of $450,000 Within 12 months of the Closing Date Minimum of $350,000 Within 18 months of the Closing Date Minimum of $300,000 Within 24 months of the Closing Date Minimum of $300,000 Total: Minimum of $1,400,000 1531323 BC will be responsible for the operations of the Properties while the Option Agreement is in effect. If 1531323 BC satisfies the expenditure requirement at the Properties, the Company and 1531323 BC will establish a joint venture for the exploration and development of the Properties. The Storø project ('Storø') is a 12 km² license which hosts an inferred mineral resource estimated in 2021 by SRK Consulting (Sweden) AB at 885,000 tonnes, grading 3.4 g/t Au and totaling 95,000 oz of gold Mineral Resources. The Mineral Resource has a cut-off grade of 0.8 g/t Au for material located within the conceptual open-pit shell and 2.5 g/t Au for underground Mineral Resources located below the pit shell. Since 1995, a total of 102 drillholes totaling 17,371 m have been drilled into the known mineralized zones at Storø. Storø is surrounded by the Qingaaq license ('Qingaaq'), which covers some 540 km². Martin Pittuck, CEng, FGS, MIMMM, a 'Qualified Person' for the purpose of National Instrument 43-101, has reviewed and approved the scientific and technical information included in this news release. 1531323 BC intends to enter into a management services contract with the Company to provide advice in respect of the Properties. The Company continues to actively pursue the acquisition of other properties and opportunities in the mineral exploration and resources sector. The Company is also announcing that it has cancelled an aggregate of 8,600,000 stock options. The subject stock options are comprised of 4,600,000 stock options with an exercise price of $0.27 per share and an expiry date of October 20, 2025, and 4,000,000 stock options with an exercise price of $0.20 per share and an expiry date of June 24, 2026. About Greenhawk Resources Inc. Greenhawk is a Canadian resources exploration and development company. Greenhawk owns a 100% legal and beneficial interest in two mineral exploration licenses and one prospecting license in Greenland known as the Storø Gold Project. Additional Information on Greenhawk can be obtained from SEDAR+ at Greenhawk is listed on the Canadian Securities Exchange ( (CSE: GRHK). Issued on behalf of the Board of Directors of Greenhawk Resources Inc. For information, please contact: David Jagodzinski, Director Corporate DevelopmentPhone: +1 (416) 504-2020Email: info@ Note Regarding Forward-Looking Information Certain statements in this press release may contain forward looking information which can be identified by the use of forward-looking terminology such as "believes", "expects", "may", "desires", "will", "should", "projects", "estimates", "contemplates", "anticipates", "intends", or any negative such as "does not believe" or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements necessarily involve risks and uncertainties that could cause actual results to significantly differ from those contemplated by these forward-looking statements including, but not limited to: the completion of the Transaction, including the receipt of the upfront payment, 1531323 BC making the requisite expenditures on the Properties to exercise the option on the Properties, the ability to obtain requisite corporate and regulatory approvals, including that of the CSE, the operator obtaining requisite permits and authorizations to allow for exploration on the Properties. Such statements reflect the view of the Company with respect to future events and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future events, several of which are beyond management's control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Zawya
05-05-2025
- General
- Zawya
Illegal mining: A key risk to tailings dams management and mine closure
Artisanal mining often occurs close to an operating mine, even to access the same deposit. In many parts of Africa, illegal artisanal miners mine tailings storage facilities (TSFs) and rock dumps, which pose a significant risk to the management of tailings dams. SRK Consulting considers the risk that illegal artisanal miners pose in the management of tailings dams in many parts of Africa The same TSF risks that face nearby communities could then apply to these miners. James Lake, partner and principal environmental scientist at SRK Consulting South Africa (SA), explains that TSFs, as part of a mine's lease area, are usually well protected by security infrastructure and services during the mine's operational years. However, the risks related to unauthorised access tend to escalate post-closure. 'In Tanzania, for instance, we have witnessed artisanal miners on a TSF, where the tailings were also being removed for use as construction material,' he says. In SRK's experience, mines often create 'attractive nuisances' after they close, such as pit gathering water that attracts wild animals. Similarly, a TSF still containing known minerals would attract illegal miners, who could put themselves at risk and perhaps endanger the structure. Global Industry Standard on Tailings Management This illegal mining is also a risk that needs attention in terms of the Global Industry Standard on Tailings Management (GISTM). Based on her work in the Democratic Republic of Congo (DRC), SRK Consulting South Africa (SA) principal environmental engineer Roanne Sutcliffe explained some of the risks associated with managing TSFs after mine closure. 'In one site, it was clear that artisanal miners were walking over a tailings dam each day to reach discards which were still considered to have some mineral value,' says Sutcliffe. 'They would then wash the ore in the supernatant pond on the TSF; this sort of activity could have health and safety implications and could impact the stability of the TSF.' In another case, there was evidence of artisanal mining on a mineral seam which was not only adjacent to a TSF but which also ran under the TSF's foundation. Post-closure activity close to a tailings dam was itself a potential risk, while any mining underneath the structure would compromise its stability and pose life-threatening risks. 'The GISTM highlights that mitigating TSF risks is a responsibility that extends for tens or even hundreds of years after mines cease operations,' she says. 'This means finding sustainable solutions and post-closure uses that address the considerable risks posed by ongoing artisanal mining.'
