Updated: Apr 13
✦ Part 4 of Samso's Special Series on Blackstone Minerals Ltd (ASX:BSX) with Andrew Strickland, Head of Project Development on his role in the Ta Khoa Nickel Cu-PGE Project in Vietnam.
Post year-end in July 2021, Blackstone Minerals delivered a compelling Pre-Feasibility Study (PFS) for the Downstream Business Unit. The PFS demonstrated post-tax Net Present Value (NPV) of more than US$2 billion and internal rate of return (IRR) of 67%. Upfront project capital of US$491 million would be paid back in 1.5 years from first production.
In terms of Blackstone Minerals' Upstream unit, they are continuing to drill out five orebodies across the project, comprising two larger disseminated deposits and three high-grade underground deposits. Blackstone Minerals have eight drill rigs operating to support resource estimations for each of these and these are intended to be incorporated into the Upstream Business Unit PFS, due for delivery later in the 2021 calendar year.
[source: Blackstone Minerals Annual Report 2021]
Andrew Strickland together with the experience management team to drive Ta Khoa forward as mine-to-market nickel business. The Ta Khoa Nickel Project is to produce downstream nickel products for the lithium-ion battery industry.
Andrew had a Coffee With Samso interview where he describes his role in developing the overall upstream and downstream projects in a way to optimise the overall value of Blackstone Minerals including Blackstone's ESG culture, in particular managing ESG in Vietnam.
If you want to take a peek into Blackstone Mineral's operations of the Ta Khoa Nickel Project, this is the inside story.
01:02 Andrew Strickland Introduction
01:49 What does Andrew deal with in the Business.
02:33 Does Blackstone having its own ore make it "safer" ?
04:02 The Massive Sulphide vs. Disseminated Sulphide Story.
05:25 There is challenge of having a large number of targets.
06:49 How Important is planning the timing of delivering your targets.
09:13 How does Ta Khoa compare to other projects?
11:18 What does Andrew feel on the ESG factors in Vietnam.
13:02 ESG is more apparent for Andrew and his area of concern.
14:12 Is drilling more expensive in Vietnam?
15:10 Is the culture of ESG instilled in Blackstone?
16:32 What is the resource going to look like ?
18:15 Is the implementation of Electric Vehicle & Renewable Energy in the Feasibility Study?
19:06 How realistic is the coming of the electric Mining Fleet.
19:41 The Hybrid nature of mining fleet including Hydrogen
19:56 Transition Path to Electric Mining Fleet
20:45 Are there any other "ways' to do it better?
22:08 How hard is it to have a Mining Fleet?
24:11 Is the plan to have an electric fleet the way to go?
25:10 What is it for Investors going forward?
25:49 Development of by-products
26:22 Potential of Credits
27:28 The benefits of by-product credits
28:10 Any issues chemically?
29:19 Are the partners helping ?
30:26 Are your "retail" partners helping?
31:41 Any last minute thoughts to investors?
32:47 Ducks lining up proper now for Nickel and Mining Nickel.