Achmmach is blessed with a world class tin resource endowment. With over 120,000 meters of drilling and estimated 160,000 tons of tin at 0.7% grade, its orebody is one of the largest and highest-grade tin deposits globally, with further potential to grow along strike and depth.
The 2018 Definitive Feasibility Study and subsequent 2019 FEED and ITE reports demonstrate the strong economic potential of Achmmach, supported by low capital intensity and operating costs. Various value-add opportunities have been studied since, including the 2020 Scoping Study which suggests potential for 20 years of production from the existing mineral inventory, as well as potential for mining and processing efficiencies, dry stack tailings and integrated smelter. An updated 2023 Feasibility Study is underway to crystallize these optimizations into an even more robust and compelling design, as the company positions the project for construction in the short term.
2018 Definitive Feasibility Study (DFS)
In July 2018, the Group announced the very positive results from the 2018 DFS of the Achmmach Tin Project, including:
2019 Front End Engineering and Design (FEED)
During FY2019, as a precursor to entering into an Engineering, Procurement and Construction (EPC) contract with reputable, credit worth engineering firms, the Company undertook a request for proposal for the Front-End Engineering and Design (FEED) scope. The FEED aimed at enhancing and improving the design and efficiencies in the processing plant, thereby reducing risk and targeting an improved EPC price for the construction of the processing plant.
The scope of the FEED included:
The FEED resulted in a number of proposed improvements to the Achmmach Tin Project, including:
The improvements and higher level of engineering design and cost detail provided further confidence in the project and confirms that capital costs of the project are within range included in the 2018 DFS. The FEED provided a well-defined scope of work for competitively tendering the EPC contract when the project progresses to implementation, along with further engineering design and project optimisation in a lead up to a project construction decision.
2019 Independent Technical Specialists Report (ITSR)
Following completion of the FEED, the Company engaged AMC Consultants as the Independent Technical Expert (ITE) to complete an Independent Technical Specialists Report (ITSR) for the Achmmach Tin Project.
The ITSR was performed based on the 2018 DFS, the 2019 FEED as well as other supplementary information from work performed since the release of the 2018 DFS, including additional ventilation and geotechnical reviews.
The ITSR confirmed the technical viability of the 2018 DFS and provided certain recommendations around additional optimisation opportunities for consideration as the project is advanced towards development.
Life of Mine Optimisation Study
In February 2020, the Company completed an internal assessment of cut-off grade optimization for the project, looking to maximize value from the existing resource base at the Meknes orebody.
Permits and Licenses
In January 2022, the mining license of the Achmmach Tin Project (license d’exploitation No.332912) was successfully renewed for a further 10-year period to 17 January 2032. The renewal of the mining license demonstrates the continued support of the local and regional governments of Morocco.
Environmental and Social Impact Assessment
The Environmental and Social Impact Assessment (ESIA) for the Achmmach Tin Project was completed in 2014 and in 2019, was renewed for a further five years. The ESIA is a critical permit required to operate and sets out the fundamental environmental and social compliance framework. The renewal confirmed the Company's compliance with Moroccan environmental and regulatory requirements and reaffirms the Moroccan authorities support for the project. The renewal of the ESIA was an important step in securing the tenure of the mining license.
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