Calgary-based private developer Canadian Energy Metals has released a preliminary economic assessment for building a $6.3 billion (C$8.6 billion) alumina business around its Thor project in east-central Saskatchewan.
The deposit could give Canada a domestic source of alumina, the key feedstock used to make aluminum, according to CEO Christopher Hopkins. It would be located near the town of Tisdale.
“This PEA confirms that the Thor project is a possible game-changer for North America’s aluminum supply chain,” Hopkins told The Northern Miner host Devan Murugan. “Our next focus is to engineer a demonstration facility while moving Thor towards commercialization.”
Thor has modelled a 25-year surface mine and plant with an after-tax net present value of $72.3 billion and a 72% internal rate of return, based on a 10% discount rate. This year, the company plans to update the resource estimate, advance pilot work on smelter-grade alumina and potential scandium and vanadium streams and finish engineering for a demonstration plant as it weighs funding options.
Watch the full interview below:
The preceding Joint Venture video is PROMOTED CONTENT sponsored by Canadian Energy Metals and produced in co-operation with The Northern Miner. Visit https://canadianenergymetals.com for more information.
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