Ecora Resources PLC Announces Voisey’s Bay Update
Ecora Resources announces the completion of Vale Base Metals' Voisey's Bay Mine Expansion Project, transitioning from open pit to underground mining. The expansion includes two underground mines - Reid Brook and Eastern Deeps - which will supply concentrate to the Long Harbour Processing Plant.
The project is expected to produce 2.6 Ktpa of cobalt on average over the mine's life, with full ramp-up anticipated by second half of 2026. Ecora holds a stream agreement entitling it to 22.82% of all cobalt production from Voisey's Bay until 7,600 tonnes of finished cobalt are delivered, after which the entitlement reduces to 11.41%.
Ecora Resources annuncia il completamento del Progetto di Espansione della Miniera di Voisey's Bay di Vale Base Metals, passando da un'estrazione a cielo aperto a un'estrazione sotterranea. L'espansione comprende due miniere sotterranee - Reid Brook e Eastern Deeps - che forniranno concentrato all'impianto di lavorazione di Long Harbour.
Si prevede che il progetto produca 2.6 Ktpa di cobalt in media durante la vita della miniera, con un pieno aumento previsto entro la seconda metà del 2026. Ecora detiene un accordo di stream che le consente di ricevere 22.82% di tutta la produzione di cobalto da Voisey's Bay fino alla consegna di 7.600 tonnellate di cobalto finito, dopodiché il diritto si riduce al 11.41%.
Ecora Resources anuncia la finalización del Proyecto de Expansión de la Mina Voisey's Bay de Vale Base Metals, pasando de la minería a cielo abierto a la minería subterránea. La expansión incluye dos minas subterráneas - Reid Brook y Eastern Deeps - que suministrarán concentrado a la Planta de Procesamiento de Long Harbour.
Se espera que el proyecto produzca 2.6 Ktpa de cobalto en promedio durante la vida de la mina, con un aumento completo anticipado para la segunda mitad de 2026. Ecora tiene un acuerdo de stream que le da derecho a 22.82% de toda la producción de cobalto de Voisey's Bay hasta que se entreguen 7,600 toneladas de cobalto terminado, después de lo cual el derecho se reduce a 11.41%.
에코라 리소스는 발레 베이스 메탈의 보이지 베이 광산 확장 프로젝트가 완료되었음을 발표하며, 노천채굴에서 지하채굴로 전환합니다. 이 확장에는 리드 브룩과 이스턴 딥스라는 두 개의 지하 광산이 포함되어 있으며, 이들은 롱 하버 가공 공장에 농축물을 공급할 것입니다.
프로젝트는 광산의 생애 동안 평균 2.6 Ktpa의 코발트를 생산할 것으로 예상되며, 2026년 하반기까지 완전 가동이 기대됩니다. 에코라는 보이지 베이에서 생산되는 모든 코발트의 22.82%를 받을 수 있는 스트림 계약을 보유하고 있으며, 이는 7,600톤의 가공된 코발트를 인도한 후 11.41%로 줄어듭니다.
Ecora Resources annonce l'achèvement du Projet d'Extension de la Mine de Voisey's Bay de Vale Base Metals, passant du miniage à ciel ouvert au miniage souterrain. L'extension comprend deux mines souterraines - Reid Brook et Eastern Deeps - qui fourniront du concentré à l'usine de traitement de Long Harbour.
Le projet devrait produire en moyenne 2.6 Ktpa de cobalt tout au long de la vie de la mine, avec une montée en puissance complète prévue d'ici la seconde moitié de 2026. Ecora détient un accord de stream lui permettant de recevoir 22.82% de toute la production de cobalt de Voisey's Bay jusqu'à la livraison de 7 600 tonnes de cobalt fini, après quoi le droit est réduit à 11.41%.
Ecora Resources kündigt den Abschluss des Erweiterungsprojekts der Voisey's Bay Mine von Vale Base Metals an, das den Übergang von Tagebau zu Untertagebau bedeutet. Die Erweiterung umfasst zwei Untertageminen - Reid Brook und Eastern Deeps - die Konzentrate an die Verarbeitungsanlage Long Harbour liefern werden.
Das Projekt wird voraussichtlich während der Lebensdauer der Mine im Durchschnitt 2,6 Ktpa Kobalt produzieren, mit einer vollständigen Hochlaufphase, die in der zweiten Hälfte von 2026 erwartet wird. Ecora hält einen Stream-Vertrag, der ihm 22.82% der gesamten Kobaltproduktion aus Voisey's Bay bis zur Lieferung von 7.600 Tonnen fertigem Kobalt zusichert, danach reduziert sich das Anrecht auf 11.41%.
- Completion of mine expansion project ensures continued cobalt production
- Secured 22.82% streaming rights of cobalt production
- Expected average cobalt production of 2.6 Ktpa
- Reduction in streaming rights to 11.41% after 7,600 tonnes threshold
- Full ramp-up delayed until second half of 2026
LONDON, UNITED KINGDOM / ACCESSWIRE / December 4, 2024 / Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) notes the publication of a press release by Vale Base Metals, on 3 December 2024, announcing the completion of the Voisey's Bay Mine Expansion Project. Ecora has a stream agreement which entitles it to receive
The expansion project transitioned Voisey's Bay from open pit to underground mining. The project involved the development of two underground mines - Reid Brook and Eastern Deeps - which will deliver concentrate for processing at the company's Long Harbour Processing Plant, one of the lowest-emission nickel processing plants in the world.
In addition to the increased nickel production, the project will produce 2.6 Ktpa of cobalt on average over the life of mine. Full ramp up is expected by the second half of 2026.
The full press release is available here: https://www.vale.com/w/vale-informs-the-voiseys-bay-mine-expansion-project-completion/-/categories/1968806
1) The Group is entitled to receive
For further information
Ecora Resources PLC | +44 (0) 20 3435 7400 |
Geoff Callow - Head of Investor Relations |
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FTI Consulting Sara Powell / Ben Brewerton / Nick Hennis | +44(0) 20 3727 1000 |
About Ecora Resources
Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future.
Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.
The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.
Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over
Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).
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Certain statements in this announcement, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Group's expectations and views of future events. Forward-looking statements (which include the phrase 'forward-looking information' within the meaning of Canadian securities legislation) are provided for the purposes of assisting readers in understanding the Group's financial position and results of operations as at and for the periods ended on certain dates, and of presenting information about management's current expectations and plans relating to the future. Readers are cautioned that such forward-looking statements may not be appropriate other than for purposes outlined in this announcement. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, cash flow, requirement for and terms of additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of the Group including the outlook for the markets and economies in which the Group operates, costs and timing of acquiring new royalties and making new investments, mineral reserve and resources estimates, estimates of future production, production costs and revenue, future demand for and prices of precious and base metals and other commodities, for the current fiscal year and subsequent periods.
Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. Forward-looking statements are based upon certain material factors that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by the Group in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. The material factors and assumptions upon which such forward-looking statements are based include: the stability of the global economy; the stability of local governments and legislative background; the relative stability of interest rates; the equity and debt markets continuing to provide access to capital; the continuing of ongoing operations of the properties underlying the Group's portfolio of royalties, streams and investments by the owners or operators of such properties in a manner consistent with past practice; no material adverse impact on the underlying operations of the Group's portfolio of royalties, streams and investments from a global pandemic; the accuracy of public statements and disclosures (including feasibility studies, estimates of reserve, resource, production, grades, mine life and cash cost) made by the owners or operators of such underlying properties; the accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties, streams and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any significant property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title.
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SOURCE: Ecora Resources PLC
View the original press release on accesswire.com
FAQ
What is Ecora Resources' (ECRAF) cobalt streaming agreement at Voisey's Bay?
When will the Voisey's Bay Mine Expansion Project reach full production?
How much cobalt will the expanded Voisey's Bay mine produce annually?
What changes were made in the Voisey's Bay Mine Expansion Project?
