NCP International (NCPI) will refurbish an unused semi-autogenous mill for Rio Tinto's Abuja Gold Mine project in Cote d 'Ivoire to accelerate development of the Abuja project
NCPI will retrofit the mill and provide it with a new VVVF (variable voltage/frequency conversion) drive, including a warranty equal to the new mill
The mill has a significant cost advantage over brand new machines and is more than $3.5 million cheaper than the capital cost estimate of Tieto's $230 million pre-feasibility study
The size of the mill is slightly larger than envisaged in Abuja, so there is potential for growth in capacity in the future
Preliminary assessments predict that the mill's processing capacity will exceed 4 million tons per year, which will further improve the economics of the project
The Abuja project is expected to be the next in-production gold project in West Africa, with Iron Tinto expected to complete the final feasibility study (DFS) for the Abuja project in the third quarter of 2021
The company has ample cash to push ahead with the Abuja project, with A $5.2 million in cash on its books
The one-stage semi-autogenous mill was originally manufactured in 2008 but has never been installed and has been stored in Australia for the past 12 years.
The mill company, NCP International Ltd, will transport the mill parts to Johannesburg for thorough inspection and refurbishment.
The mill is expected to leave the factory for use within 28 weeks.
Dr Wang Caigen, Managing Director of Tietuo Mining, commented on this development:
"Rio Tinto is pleased to have acquired this core equipment for the Abuja project, which has taken the longest time to procure.
"This opportunistic acquisition will save more than $3.5 million in capex, increase future mine grinding capacity and reduce unit grinding costs, while also reducing standard mill procurement time by more than 20 weeks."
"The mill is the core equipment of the concentrator and we are pleased to be able to acquire the mill at a lower price which will enhance the economics of the Abuja project."
"This is the first step on a clear path to first production of the Abuja project by the fourth quarter of 2022, which will put us well on our way to Abuja becoming West Africa's next in-progress gold mine."
Founded in 2011, NCP International is a leading supplier of mills to the mining industry.
The company specializes in providing new and refurbished mills, all commissioned mill (OEM) spare parts, mill professional design, beneficiation process audit and on-site related mill maintenance services.
NCPI has a dedicated team and support agency network around the world.
