London, England — MININGREVIEW.COM — 05 May 2009 – Central African Mining and Exploration Company (CAMEC) – an Africa-focused, emerging copper and cobalt producer – has discovered an inferred bauxite resource of 439 million tonnes in Mali.
A company statement distributed by the Regulatory News Service here confirmed that the resource estimate – which complied with the Australian JORC Code for the reporting of exploration results – was equal to 152 million tons of “smelter- grade” alumina. Alumina is refined from bauxite ore and sent to smelters to produce aluminium.
The statement added that CAMEC’s total licence area at Falea in Mali covered 4 500 sq km, and that the company had an 80% working interest in the licences.
CAMEC chief executive Andrew Groves commented: “With the publication of a maiden JORC resource equating to 152 million tonnes of smelter grade alumina, we are beginning to quantify the value of our licence areas in Mali. With a projected SGA cost of US$182 per tonne, this puts Faléa in the lower quartile of the cost curve,” he added.
“We will now undertake a pre-feasibility study for the development of a large-scale refinery project based on the Faléa bauxite district, once commitments to infrastructure development are assured,” Groves continued. “The bauxite grades and the resource size of the Faléa deposits warrant further exploration to verify the economic potential of the project, which we believe has the potential to be a world-class resource,” he concluded.
Faléa is only one of several highly prospective projects that CAMEC is currently developing in the West African Region.