Lacus Iron Ore Project

  • Overview:

    Project Operator: Lacus Mining LLC,

    Project Description: The Chumek Iron Ore Field, Lacus Project. The deposit is located in the Kurchum district of East Kazakhstan region in the inaccessible mountain-taiga part of the South Altai. Absolute elevations vary from 1,500 to 2,200 m. The mineral resource is iron (Fe),

    Project’s Current Status: Exploration work is being performed as part of the Pre-Feasibility Study (PFS) report preparation,

    Project Reserves: Category C1, C2 reserves - 9,505 thousand tons with an average Fe grade of 47.7%; category P1, P2 resources - 34,865 thousand tons with an average Fe grade of 45.9%,

    Mining Method: Open-pit,

    Project Process Information: Dry magnetic separation,

    Duration of the project: 19 years,

    Deposit Development Period: 15 years,

    Project Design Capacity: 1.5 million tons of ore per year, 968 thousand tons of metal (Fe) per year,

    Project’s Current Stage Finance Status: The project is 100% funded,

    Start of Facilities Construction: year 2024,

    Facilities Launch Planned At: year 2026.


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