Minemakers is targeting first production from its Northern Territory project next year as it unveils capital costs of around $100 million for Australia's largest phosphate resource.
The company said based on studies for a direct shipping operation, preliminary on-site capital costs - including accommodation, airfield, roads - would be between $75 million and $100 million.
Operating costs were estimated at $150 per tonne.
Final cost estimates for the mine will be determined after the receipt of drill results from current and planned programs, and whether mining will take place on either the Main Zone deposit or the Arruwurra deposit or both.
Both deposits are located within the Wonarah project.
Minemakers also announced today that the Main Zone deposit resource estimate has more than quadrupled to 330 million tonnes at 18.9 per cent phosphorous pentoxide.
In combination with the Arruwurra deposit - 131mt at 18.6 per cent phosphorous pentoxide - the total inferred mineral resource estimate for Wonarah is now 416mt, making the project the largest known phosphate resource in the country.
"The Company is now targeting an early start Stage 1 Direct Shipping Ore operation, with first production in about a year," managing director Andrew Drummond said.
"These latest results give us great confidence with our project development over the next year and we now clearly have a deposit base on which we can build a major operation."
