NIOBIUM: Taseko measures 84M tonnes for Aley reserves

BRITISH COLUMBIA – After examining the Aley niobium project on the east side of Williston Lake, Taseko Mines of Vancouver has put the proven and probable reserves at 84 million tonnes grading 0.50% Nb₂O₅. Taseko acquired the property six years ago for $5.4 million and has spent $30 million exploring it.

The reserves are contained in the measured and indicated resources that total 285.8 million tonnes grading 0.37% Nb₂O₅.

Taseko commissioned a 43-101 report on the Aley property in 2012. A 10,000 t/d mine with a 24-year life would produce an average of 9 million kg of niobium annually. It found the pre-tax net present value to be $860 million at an 8% discount. An internal rate of return was suggested at 17% and the project would pay for itself in 5.5 years. The estimated pre-production cost of $870 million covers pre-stripping ($70 million), an open pit, concentrator and site infrastructure ($520 million), a converter ($180 million), and offsite infrastructure ($100 million).

The company says Aley is the most advanced as well as highest quality niobium project under development. Visit TasekoMines.com to learn more.