表紙
市場調查報告書

電池原料的新開採計劃:技術性、財務的評估

Greenfield Battery Raw Material Projects for the 2020s: Technical & Financial Evaluation

出版商 Roskill Information Services 商品編碼 910759
出版日期 內容資訊 英文
商品交期: 最快1-2個工作天內
價格
如有價格方面的疑問請按下「詢問」鍵來信查詢
Back to Top
電池原料的新開採計劃:技術性、財務的評估 Greenfield Battery Raw Material Projects for the 2020s: Technical & Financial Evaluation
出版日期: 2019年06月30日內容資訊: 英文
簡介

本報告提供全球電池原料 (鋰,石墨,鈷、銅、鎳、錳)的新開採計劃的趨勢與預測相關分析,整體市場規模趨勢預測,及各資源的賦存數量、開採數量預測,核算收支、價格水準的預測,外部影響要素等資訊彙整,為您概述為以下內容。

第1章 簡介

第2章 摘要整理

第3章 各商品的市場展望和價格趨勢:前提條件

    • 產業結構
    • 鋰離子電池產業上地位
    • 供給量、需求量
    • 價格趨勢
  • 石墨
  • 長期的價格趨勢:前提條件

第4章 鋰開採計劃

  • 簡介
  • 資源賦存情形和蘊藏量
    • 鹹水資源
    • 礦物資源
  • 開採數量/開採數量
  • 加工數量
    • 精製鋰廠商
    • 鋰輝石廠商
  • 生產成本
    • 精製鋰廠商
    • 鋰輝石廠商
  • 資本成本
  • 產品組合與市場收益額
  • 現金流量分析
  • 計劃、獎勵價格 (PIP: Project-Insentive Price)
  • 案例研究:資本支出與生產強化

第5章 鈷、銅、鎳、錳開採計劃

  • 簡介
  • 資源賦存情形和蘊藏量
    • 資源的規模和品位 (等級)
      • 鈷的資源賦存情形和蘊藏量
      • 鎳的資源賦存情形和蘊藏量
      • 銅的資源賦存情形和蘊藏量
      • 錳的資源賦存情形和蘊藏量
  • 開採數量
    • 露天開採的比率,與廢棄物稀釋等級 (waste-diluted grades)
  • 選礦
    • 硫化物精礦、EMM
    • 大氣壓的漏出
    • HPAL (高壓/加壓酸浸出) 計劃
    • HPAL的強化和成本超支
    • HPAL流程的運用成本
  • AISC (All-in Sustaining Costs)
  • 運作中的礦山的AIC (All-in Costs) 總額
  • 資本發展費用
  • 收入淨額額和中間生產品
    • 中間生產品:混合氫氧化物
    • 中間生產品:混合硫化物
    • 中間生產品:硫酸鎳、鈷
    • 中間生產品:硫化物精礦
    • 中間生產品:錳
    • 獲利能力和核算領域
  • 現金流量分析
    • 計劃、獎勵價格 (PIP)

第6章 石墨開採計劃

  • 簡介
  • 資源賦存情形和蘊藏量
  • 開採數量
  • 選礦
  • 礦山的營運成本
  • AISC和報酬率
    • 已調整價格成本和同行團體類型價格
  • 資本費用
    • 運作中的礦山的AIC (All-in Costs) 總額
  • 產品組合與市場收益額
    • 鱗片狀石墨的規模,和計劃對經濟性的影響
    • 二次加工
  • 現金流量分析
    • 計劃、獎勵價格 (PIP)
  • 案例研究:Balama Project

第7章 附錄

第8章 個別計劃的簡介、註記

  • 鈷開採計劃
  • 銅開採計劃
  • 石墨開採計劃
  • 鋰開採計劃
  • 錳開採計劃
  • 鎳開採計劃
目錄

Automotive electrification and energy storage will drive strong demand for lithium-ion battery raw materials over the coming decades. Understanding these potential future sources of supply is key to identifying potential bottlenecks as well as opportunities.

To understand the potential of new sources of raw materials, Roskill has reviewed the plans of over 50 developers evaluating greenfield projects that could contribute to the supplies of cobalt, graphite, lithium, manganese and nickel in the 2020s.

For each project, the report provides a detail multi-decade production, cost and cash flow outlook in addition, to a written project overview outlining each project's critical influencing factors, location and infrastructure, project history, geology, resources, mining method, processing flowsheet and development plans.

The report will answer your questions:

  • What is the landscape for greenfield projects to help meet future demand?
  • Where are these projects located and could geography play a role?
  • How will prices influence project economics?
  • What outside factors could delay or prevent projects coming to market?
  • Which primary, co- and by-products need to be considered?
  • Could added value production increase project success?

Report includes:

  • Analysis of over 50 battery raw material projects for cobalt, graphite, lithium, manganese and nickel
  • Market outlooks (to 2028) for cobalt, graphite, lithium, manganese and nickel
  • Comparative project benchmarking on a commodity-by-commodity for resource quality, opex, capex, IRR and NPV.
  • Analysis of project incentive pricing
  • Electronic access to the report through Roskill Interactive
  • Access to the analysts for discussion around report content

Table of Contents

1. Introduction

2. Executive summary

  • 2.1. Context of this study
  • 2.2. Lithium
    • 2.2.1. Lithium Brine
    • 2.2.2. Lithium Mineral
  • 2.3. Cobalt
  • 2.4. Nickel
  • 2.5. Manganese
  • 2.6. Graphite
  • 2.7. Comparing investment returns

3. Commodity outlook and price assumptions

  • 3.1. Lithium
    • 3.1.1. Lithium industry structure
    • 3.1.2. Lithium in the Li-ion battery industry
    • 3.1.3. Lithium supply and demand
    • 3.1.4. Lithium prices
  • 3.2. Cobalt
    • 3.2.1. Cobalt industry structure
    • 3.2.2. Cobalt in the Li-ion battery industry
    • 3.2.3. Cobalt supply and demand
    • 3.2.4. Cobalt prices
  • 3.3. Manganese
    • 3.3.1. Manganese industry structure
    • 3.3.2. Manganese in the Li-ion battery industry
    • 3.3.3. Manganese supply and demand
    • 3.3.4. Manganese prices
  • 3.4. Nickel
    • 3.4.1. Nickel industry structure
    • 3.4.2. Nickel in the Li-ion battery industry
    • 3.4.3. Nickel supply and demand
    • 3.4.4. Nickel prices
  • 3.5. Graphite
    • 3.5.1. Graphite industry structure
    • 3.5.2. Graphite in the Li-ion battery industry
    • 3.5.3. Graphite supply and demand
    • 3.5.4. Graphite prices
  • 3.6. Long-term price assumptions

4. Lithium projects

  • 4.1. Introduction
  • 4.2. Reserves & resources
    • 4.2.1. Brine resources
    • 4.2.2. Mineral resources
  • 4.3. Mining/extraction
  • 4.4. Processing
    • 4.4.1. Processing - refined lithium producers
    • 4.4.2. Processing - spodumene producers
  • 4.5. Production costs
    • 4.5.1. Production costs - refined lithium
    • 4.5.2. Production costs - spodumene producers
  • 4.6. Capital costs
  • 4.7. Product mix & revenues
  • 4.8. Cash flow analysis
  • 4.9. Project Incentive Price (PIP)
  • 4.10. Case studies: Capital expenditure and production ramp-up

5. Cobalt, copper, nickel and manganese projects

  • 5.1. Introduction
    • 5.1.1. Cobalt projects
    • 5.1.2. Copper projects
    • 5.1.3. Nickel projects
    • 5.1.4. Manganese projects
  • 5.2. Reserves & resources
    • 5.2.1. Resource size and grade
      • 5.2.1.1. Cobalt Reserves and Resources
      • 5.2.1.2. Nickel Reserves and Resources
      • 5.2.1.3. Copper Reserves and Resources
      • 5.2.1.4. Manganese Reserves and Resources
  • 5.3. Mining
    • 5.3.1. Strip ratios and waste-diluted grades
  • 5.4. Ore processing
    • 5.4.1. Sulphide concentrates and EMM
    • 5.4.2. Ambient pressure leaching
    • 5.4.3. High pressure/pressurised acid leach projects
    • 5.4.4. HPAL ramp-ups and cost overruns
    • 5.4.5. HPAL process operating costs
  • 5.5. All-in Sustaining Costs (AISC)
  • 5.6. Life-of-mine cost summary - all-in costs
  • 5.7. Capital development costs
  • 5.8. Net metal revenues and intermediate products
    • 5.8.1. Intermediate products - mixed hydroxides
    • 5.8.2. Intermediate products - mixed sulphides
    • 5.8.3. Intermediate products - nickel and cobalt sulphates
    • 5.8.4. Intermediate products - sulphide concentrates
    • 5.8.5. Intermediate products - manganese
    • 5.8.6. Payability and payable yield
  • 5.9. Cash flow analysis
    • 5.9.1. Project Incentive Price (PIP)

6. Graphite projects

  • 6.1. Introduction
  • 6.2. Reserves & resources
  • 6.3. Mining
  • 6.4. Ore processing
  • 6.5. Mine site operating costs
  • 6.6. All-in Sustaining Costs and margins
    • 6.6.1. Price adjusted costs and Peer Group Basket Price
  • 6.7. Capital costs
    • 6.7.1. Life of Mine All-in Costs (AIC)
  • 6.8. Product mix & revenues
    • 6.8.1. Flake size impact on project economics
    • 6.8.2. Secondary processing
  • 6.9. Cash flow analysis
    • 6.9.1. Project Incentive Price (PIP)
  • 6.10. Case study: Balama Project

7. Appendix

  • 7.1. Cost estimation methodology
    • 7.1.1. What production unit is appropriate?
    • 7.1.2. Total cash costs and all-in sustaining costs
    • 7.1.3. By-Product or normal costing
    • 7.1.4. Co-product or pro-rata costing
  • 7.2. Commodity conversion tables
  • 7.3. Ore resources (inclusive of reserves)

8. Project profile notes

  • 8.1. Cobalt projects
    • 8.1.1. Idaho Cobalt
    • 8.1.2. Kipushi Tailings
    • 8.1.3. Mt Thirsty
    • 8.1.4. Musonoi
    • 8.1.5. NICO
    • 8.1.6. Nkamouna
    • 8.1.7. Thackaringa
  • 8.2. Copper projects
    • 8.2.1. Kalongwe
    • 8.2.2. NorthMet
    • 8.2.3. Twin Metals
  • 8.3. Graphite projects
    • 8.3.1. Ancuabe
    • 8.3.2. Bissett Creek
    • 8.3.3. Epanko
    • 8.3.4. Kookaburra Gully
    • 8.3.5. Lac Guéret
    • 8.3.6. Lac Knife
    • 8.3.7. Lindi Jumbo
    • 8.3.8. Mahenge
    • 8.3.9. McIntosh
    • 8.3.10. Molo
    • 8.3.11. Montepuez
    • 8.3.12. Nachu
    • 8.3.13. Siviour
  • 8.4. Lithium projects
    • 8.4.1. Authier
    • 8.4.2. Cinovec
    • 8.4.3. Clayton Valley South
    • 8.4.4. Goulamina
    • 8.4.5. Keliber
    • 8.4.6. Maricunga
    • 8.4.7. Pastos Grandes
    • 8.4.8. Ratones & Centenario (Cuenca)
    • 8.4.9. Rhyolite Ridge
    • 8.4.10. Rincon
    • 8.4.11. Rose
    • 8.4.12. Sal de Vida
    • 8.4.13. Sonora
    • 8.4.14. Thacker Pass (previously called Lithium Nevada & Kings Valley)
    • 8.4.15. Tres Quebradas (3Q)
    • 8.4.16. Wolfsberg
  • 8.5. Manganese projects
    • 8.5.1. Artillery Peak
    • 8.5.2. Chvaletice Tailings
    • 8.5.3. Hermosa (Central Deposit)
    • 8.5.4. Plymouth (Woodstock)
  • 8.6. Nickel projects
    • 8.6.1. Dumont
    • 8.6.2. Eagle's Nest
    • 8.6.3. Enterprise Nickel
    • 8.6.4. Goongarrie
    • 8.6.5. Minago
    • 8.6.6. Ravensthorpe
    • 8.6.7. SCONI
    • 8.6.8. Sunrise (Syerston)
    • 8.6.9. Turnagain
    • 8.6.10. Wingellina

List of Tables

  • Table 1: Project list
  • Table 2: Summary of capital costs and annual production capacity by commodity
  • Table 3: Greenfield project KPIs
  • Table 4: Lithium used in battery technologies, 2013-2028
  • Table 5: Cobalt used in battery technologies, 2010-2028
  • Table 6: Manganese used in battery technologies, 2010-2028
  • Table 7: Nickel used in battery technologies, 2008-2028
  • Table 8: Graphite used in battery technologies, 2013-2028
  • Table 9: Summary of long-term price vs. 2018 average
  • Table 10: Summary of lithium project analysed
  • Table 11: Lithium chemical conversion
  • Table 12: Summary of the mining rates and costs for the mineral based projects analysed
  • Table 13: Summary of the processing rates and costs for the projects analysed
  • Table 14: Capital development and intensity cost summary - Refined producers
  • Table 15: Capital development and intensity cost summary - Spodumene producers
  • Table 16: Specification of refined lithium products produced by Livent
  • Table 17: Long-term lithium prices summary
  • Table 18: Long-term by-product prices
  • Table 19: Summary of project valuations and investment returns
  • Table 20: Project summary
  • Table 21: Technical study criteria summary
  • Table 22: Summary of cobalt ore, proven and probable reserves and total resources
  • Table 23: Summary of copper ore, proven and probable reserves and total resources
  • Table 24: Summary of nickel ore, proven and probable reserves and total resources
  • Table 25: Summary of manganese ore, proven and probable reserves and total resources
  • Table 26: Summary of contained metal hosted in reserves and resources.
  • Table 27: Intermediate products and processing route options
  • Table 28: HPAL operation and autoclave characteristics
  • Table 29: Leach plant acid consumption, autoclave temperature and flowsheet
  • Table 30: Summary of cobalt costs - ranked on pro-rata all-in cost
  • Table 31: Summary of copper costs - ranked on pro-rata all-in cost
  • Table 32: Summary of nickel costs - ranked on pro-rata all-in cost
  • Table 33: Summary of manganese costs - ranked on pro-rata all-in cost
  • Table 34: Capital development and intensity cost summary table - cobalt and copper
  • Table 35: Capital development and intensity cost summary - nickel and manganese
  • Table 36: Percentage of net revenues by metal and intermediate products
  • Table 37: Summary of sulphide concentrate composition - grades of key metals
  • Table 38: Recovery rates, payability terms and payable yield across intermediate products
  • Table 39: Project valuations and investment returns
  • Table 40: Graphite project summary
  • Table 41: Mining summary
  • Table 42: Syrah Resources - operating performance during first 15 months
  • Table 43: LOM all-in sustaining cost and margin summary table (ranked on AISC margin)
  • Table 44: Project Peer Group Basket Price composition
  • Table 45: Concentrate sales destination
  • Table 46: Price adjusted AISC summary ($/t concentrate) - life-of-mine average
  • Table 47: All-in Cost Summary (US$/t concentrate life-of-mine) - ranked on AIC margin
  • Table 48: Product size and long-term graphite price summary
  • Table 49: Project flake size distribution, production and revenue components
  • Table 50: Project valuations and investment returns
  • Table 51: Summary by-product / normal cost analysis
  • Table 52: Net revenue calculation
  • Table 53: Cost allocation based on net revenue percentage
  • Table 54: Summary co-product / pro-rata cost analysis
  • Table 55: Lithium compound conversions
  • Table 56: Cobalt compound conversions
  • Table 57: Nickel compound conversions
  • Table 58: Cobalt ore reserves, measured & indicated and inferred
  • Table 59: Copper ore reserves, measured & indicated and inferred
  • Table 60: Nickel ore reserves, measured & indicated and inferred
  • Table 61: Manganese ore reserves, measured & indicated and inferred
  • Table 62: Idaho mineral resource summary
  • Table 63: Idaho mineral reserve summary
  • Table 64: Kipushi Tailings mineral resource summary
  • Table 65: Mt Thirsty mineral resource summary
  • Table 66: Musonoi mineral resource estimate
  • Table 67: Musonoi mineral reserve estimate
  • Table 68: NICO mineral resource summary
  • Table 69: NICO mineral reserve summary
  • Table 70: Nkamouna mineral resource summary
  • Table 71: Nkamouna mineral reserve summary
  • Table 72: Thackaringa mineral resource summary
  • Table 73: Thackaringa mineral reserve summary
  • Table 74: Kalongwe mineral copper resource summary
  • Table 75: Kalongwe mineral reserve summary
  • Table 76: NorthMet mineral resource summary
  • Table 77: NorthMet mineral reserve summary
  • Table 78: Twin Metals mineral resource summary
  • Table 79: Twin Metals mineral reserve summary
  • Table 80: Ancuabe T12 and T16 deposits, mineral resources summary
  • Table 81: Ancuabe T12 and T16 deposits, mineral reserves summary
  • Table 82: Ancuabe T12 and T16 deposits, mining parameters
  • Table 83: Ancuabe flake size distribution
  • Table 84: Bissett Creek resource summary
  • Table 85: Bissett Creek reserve summary
  • Table 86: Bissett Creek flake size distribution
  • Table 87: Epanko mineral resource summary
  • Table 88: Epanko mineral reserve summary
  • Table 89: Epanko flake size distribution
  • Table 90: Kookaburra Gully mineral resource summary
  • Table 91: Kookaburra Gully mineral reserve summary
  • Table 92: Lac Gueret mineral resource summary
  • Table 93: Lac Gueret mineral reserve summary
  • Table 94: Lac Knife resource summary
  • Table 95: Lac Knife mineral reserve summary
  • Table 96: Lindi Jumbo mineral resource summary
  • Table 97: Lindi Jumbo mineral reserve summary
  • Table 98: Lindi Jumbo flake size distribution
  • Table 99: Mahenge mineral resource summary
  • Table 100: Mahenge mineral reserve summary
  • Table 101: McIntosh mineral resource summary
  • Table 102: McIntosh mineral reserve summary
  • Table 103: McIntosh flake size distribution
  • Table 104: Molo mineral resource summary
  • Table 105: Molo mineral reserve summary
  • Table 106: Molo flake size distribution
  • Table 107: Montepuez mineral resource summary
  • Table 108: Montepuez mineral reserve summary
  • Table 109: Nachu mineral resource summary
  • Table 110: Nachu mineral reserve summary
  • Table 111: Nachu flake size distribution
  • Table 112: Siviour mineral resource summary
  • Table 113: Siviour mineral reserve summary
  • Table 114: Siviour flake size distribution
  • Table 115: Authier mineral resource summary
  • Table 116: Authier mineral reserve summary
  • Table 117: Cinovec mineral resource summary
  • Table 118: Cinovec mineral reserve summary
  • Table 119: Clayton valley South: Mineral resource summary
  • Table 120: Goulamina: Mineral resource summary
  • Table 121: Goulamina: Mineral reserve summary
  • Table 122: Keliber: Mineral resource summary
  • Table 123: Keliber: Mineral reserve summary
  • Table 124: Maricunga mineral resource summary
  • Table 125: Maricunga: Mineral reserve summary
  • Table 126: Pastos Grandes: Mineral resource summary
  • Table 127: Ratones & Centenario: Mineral resource estimate summary
  • Table 128: Rhyolite Ridge: Mineral resource summary (lithium-boron (searlesite) mineralisation only)
  • Table 129: Rhyolite Ridge: Mineral resource summary (lithium only mineralisation and lithium-boron (searlesite) mineralisation)
  • Table 130: Rhyolite Ridge: Mineral reserve summary
  • Table 131: Rincon: Mineral resource summary
  • Table 132: Rincon: Mineral reserve estimate summary
  • Table 133: Rose: Mineral resource summary
  • Table 134: Rose: Mineral reserve summary
  • Table 135: Sal de Vida: Mineral resource summary
  • Table 136: Sal de Vida: Mineral reserve summary
  • Table 137: Sonora: Mineral resource summary
  • Table 138: Sonora: Mineral reserve summary
  • Table 139: Thacker Pass: Mineral resource summary
  • Table 140: Thacker Pass: Mineral reserve summary
  • Table 141: Tres Quebradas: Mineral resource summary
  • Table 142: Tres Quebradas: Mineral reserve summary
  • Table 143: Wolfsberg: Mineral resource summary
  • Table 144: Wolfsberg: Mineral reserve summary
  • Table 145: Artillery Peak: Mineral resource summary
  • Table 146: Chvaletice: Mineral resource summary
  • Table 147: Hermosa, Taylor deposit: Mineral resource summary
  • Table 148: Hermosa, Central deposit: Mineral resource summary
  • Table 149: Dumont: Mineral resource summary
  • Table 150: Dumont: Mineral reserve summary
  • Table 151: Eagle's Nest: Mineral resource summary
  • Table 152: Eagle's Nest: Mineral reserve summary
  • Table 153: Enterprise, primary sulphide: Mineral resource summary
  • Table 154: Enterprise, near surface, oxidized, non-primary sulphide: Mineral resource summary
  • Table 155: Enterprise, primary sulphide: Mineral reserve summary
  • Table 156: Enterprise, near surface, oxidized, non-primary sulphide: Mineral reserve summary
  • Table 157: Goongarrie: Mineral resource summary
  • Table 158: Goongarrie: Mineral reserve summary
  • Table 159: Minago: Mineral resource summary
  • Table 160: Minago: Mineral reserve summary
  • Table 161: Ravensthorpe: Mineral resource summary
  • Table 162: Ravensthorpe: Mineral reserve summary
  • Table 163: SCONI: Mineral resource summary
  • Table 164: SCONI: Mineral reserve summary
  • Table 165: Sunrise, Ni and Co: Mineral resource summary
  • Table 166: Sunrise, Sc: Mineral resource summary
  • Table 167: Sunrise: Mineral reserve summary
  • Table 168: Turnagain: Mineral resource summary
  • Table 169: Wingellina: Mineral resource summary
  • Table 170: Wingellina: Mineral reserve summary

List of Figures

  • Figure 1: Location of projects analysed
  • Figure 2: Greenfield Project multi-commodity all-in sustaining margins
  • Figure 3: Comparison of project brine chemistry vs. other operations and projects within the Americas
  • Figure 4: Greenfield Project competitiveness - incentive price to capital intensity
  • Figure 5: Greenfield Project risk
  • Figure 6: Worldwide projects ranked by IRR
  • Figure 7: LCE production by country, 2011-2018
  • Figure 8: Mine supply of lithium by source, 2000-2018
  • Figure 9: Alternative scenarios for lithium demand & lithium refined supply, 2018-2028
  • Figure 10: Quarterly spot and contract prices for lithium carbonate and hydroxide, Q1-2017-Q4-2018
  • Figure 11: Lithium contract price and supply/demand forecast, 2018-2028
  • Figure 12: Mine supply of cobalt by source, 2010-2018
  • Figure 13: Refined cobalt supply by country, 2010-2018
  • Figure 14: Cobalt price and supply/demand forecast 2018-2028
  • Figure 15: Mine supply of manganese by country, 2000-2018
  • Figure 16: World: Production of EMD by country, 2009-2018
  • Figure 17: Outlook for manganese ore demand and supply, 2018-2028
  • Figure 18: Manganese price and demand forecast 2018-2028
  • Figure 19: Demand for nickel by type, 2008-2028
  • Figure 20: Outlook for primary nickel production by traded product, 2012-2028
  • Figure 21: Outlook for nickel prices, 2001-2027
  • Figure 22: Supply of graphite by type, 2008-2018
  • Figure 23: Forecast natural flake graphite prices 2018-2028
  • Figure 24: Geographic locations of projects analysed
  • Figure 25: Geographic location of South American brine projects analysed
  • Figure 26: Lithium production flowsheet
  • Figure 27: Comparison of resource size vs. concentration (grade) for the analysed brine projects and other projects
  • Figure 28: Comparison of lithium, magnesium and sulphate concentrations for the analysed brine projects and some early-stage exploration projects
  • Figure 29: Comparison of resource size vs. lithium resource grade for the analysed mineral projects and some early-stage exploration projects
  • Figure 30: Average processing cost breakdown to produce a refined lithium product
  • Figure 31: Comparison of processing costs (excluding by-product credits)
  • Figure 32: Comparison of processing costs (net of by-product credits)
  • Figure 33: Comparison of plant processing costs for projects producing spodumene concentrate (excluding by-product credits)
  • Figure 34: Comparison of plant processing costs for projects producing spodumene concentrate (net of by-product credits)
  • Figure 35: Block flow diagram for a continuous lithium carbonate plant
  • Figure 36: Comparison of site operating costs for the analysed projects producing lithium carbonate or hydroxide
  • Figure 37: Comparison of all-in sustaining cost for the production of refined product (net of by-product credits)
  • Figure 38: Comparison of all-in sustaining cost for the production of refined product (coproduct/pro-rata costing)
  • Figure 39: Comparison of all-in sustaining production cost for the projects producing a spodumene concentrate (net of by-product credits)
  • Figure 40: Comparison of all-in sustaining production cost for the projects producing a spodumene concentrate (co-product/pro-rata costing)
  • Figure 41: Comparison of the development capex required for all the projects
  • Figure 42: Comparison of the development capex for all the analysed projects
  • Figure 43: Capital intensity ratio
  • Figure 44: Internal rate of return (IRR) vs. capital intensity ratio
  • Figure 45: Long-term lithium prices summary
  • Figure 46: Project net revenue split
  • Figure 47: Project Net Present Value (NPV) at different discount rates (40-year period)
  • Figure 48: Project Net Present Value (NPV) at different discount rates (20-year period)
  • Figure 49: IRR at 2018 prices vs. percentage price increase required to achieve a 20% IRR
  • Figure 50: Internal Rate of Return (IRR) - pre-tax & pre-finance
  • Figure 51: Project Incentive Price (PIP) for projects producing a refined lithium product to achieve 0%, 15% and 20% IRRs
  • Figure 52: Project Incentive Price (PIP) for projects producing a final spodumene product to achieve 0%, 15% and 20% IRRs
  • Figure 53: Total resources vs. cobalt resource grade
  • Figure 54: Cobalt producing projects ranked by contained metal in reserves and resources
  • Figure 55: Cobalt projects in context with global deposits
  • Figure 56: Total resources vs. nickel resources grade
  • Figure 57: Nickel producing projects ranked by contained metal in reserves and resources
  • Figure 58: Total copper resources vs. copper resource grade
  • Figure 59: Copper producing projects ranked by contained metal in reserves and resources
  • Figure 60: Total resources vs. manganese resource grade
  • Figure 61: Manganese producing projects ranked by contained metal in reserves and resources
  • Figure 62: Underground mining costs vs. mining rate
  • Figure 63: Open pit mining costs vs. mining rate
  • Figure 64: Open pit mining costs per tonne of ore milled vs. strip ratio
  • Figure 65: Process costs ($/t ore). Conventional circuit - crush, grinding, concentrate flotation
  • Figure 66: Process costs ($/t ore). Ambient pressure leach SXEW / hydromet circuits
  • Figure 67: Acid consumption vs. average autoclave temperature
  • Figure 68: Historic Nickel HPAL ramp-up rates
  • Figure 69: HPAL ramp-up rates vs. revised plan and historic rates
  • Figure 70: Historic capital cost blowouts vs. new cobalt projects
  • Figure 71: Processing costs vs. annual capacity at nickel HPAL plants
  • Figure 72: LOM Cobalt All-in Sustaining Costs (pro-rata / co-product costing) long term prices
  • Figure 73: Cobalt projects (blue bars) vs. producing mines in 2017$ AISC (pro-rata costing)
  • Figure 74: LOM Nickel All-in Sustaining Costs (pro-rata / co-product costing)
  • Figure 75: LOM Copper All-in Sustaining Costs (pro-rata / co-product costing)
  • Figure 76: Total development capex per tonne of annual ore milled capacity
  • Figure 77: Development capex per pound of metal equivalent production
  • Figure 78: Capital Intensity ratio (metal equivalent)
  • Figure 79: IRR vs. Capital Intensity Ratio
  • Figure 80: Project net revenue split by metal
  • Figure 81: Project Net Present Value (US$M) at 8% discount rate
  • Figure 82: IRR vs. % metal price increase required to achieve a 20% IRR
  • Figure 83: Internal rate of return (IRR) - Cobalt projects (pre-tax, pre-finance)
  • Figure 84: Internal rate of return (IRR) - Nickel projects (pre-tax, pre-finance)
  • Figure 85: Internal rate of return (IRR) - Copper producing projects (pre-tax, pre-finance)
  • Figure 86: Internal rate of return (IRR) - Manganese producing projects (pre-tax, pre-finance)
  • Figure 87: Project Incentive Price (PIP) for Cobalt projects to achieve 0%, 15% and 20% IRRs
  • Figure 88: Project Incentive Price (PIP) for Copper projects to achieve 0%, 15% and 20% IRRs
  • Figure 89: Project Incentive Price (PIP) for Nickel projects to achieve 0%, 15% and 20% IRRs
  • Figure 90: Project Incentive Price for Manganese projects to achieve 0%, 15% and 20% IRRs
  • Figure 91: Total project resources against proven and probable reserves
  • Figure 92: Resource size and grade for the analysed graphite projects and selected other worldwide graphite projects
  • Figure 93: Open pit mining costs vs. mining rate
  • Figure 94: Mining costs ($/t material)
  • Figure 95: Minesite costs ($/t ore processed)
  • Figure 96: Minesite costs ($/t concentrate)
  • Figure 97: All-in Sustaining Costs - ranked on AISC
  • Figure 98: Price adjusted AISC including price adjustments to Peer Group Basket Price
  • Figure 99: Price adjusted All-in Sustaining Cost Curve to Peer Group Basket Price
  • Figure 100: All-in Sustaining Margin ($/t concentrate)
  • Figure 101: Development Capex per tonne of plant ore processing capacity
  • Figure 102: Development Capex per tonne of plant concentrate capacity
  • Figure 103: IRR vs. Capital Intensity Ratio
  • Figure 104: Project production proportion per flake size category
  • Figure 105: Project revenue proportion to flake size category
  • Figure 106: Graphite project reserve grade vs. proportion of large flakes
  • Figure 107: LOM All-in Sustaining Margin vs. Proportion of Large Flakes >180 microns
  • Figure 108: Project LOM revenue (US$M) by flake size split
  • Figure 109: Project NPV at different discount rates (US$M) - ranked on 8%
  • Figure 110: IRR vs. % basket price increase required to achieve a 20% IRR
  • Figure 111: Internal rate of return (IRR) - pre-tax, pre-finance
  • Figure 112: Project Incentive Price (PIP) for projects to achieve 0%, 15% and 20% IRRs
  • Figure 113: Clayton Valley South: Brine chemistry versus peers
  • Figure 114: Maricunga: Brine chemistry versus peers
  • Figure 115: Pastos Grandes: Brine chemistry versus peers
  • Figure 116: Ratones & Centenario: Brine chemistry versus peers
  • Figure 117: Rincon: Brine chemistry versus peers
  • Figure 118: Sal de Vida: Brine chemistry versus peers
  • Figure 119: Tres Quebradas: Brine chemistry versus peers
Back to Top