Orokolo Bay Project
The Orokolo Bay Project (OBP) is initially focused on the production of magnetite, which will be a precursor to the development of a broader portfolio of industrial sands projects in the region and opens the door for other downstream processing and production industries.
Pacific Lime and Cement and PowerChina are working as development partners for the Orokolo Bay Industrial Sands Project. PowerChina’s parent entity is one of the world's largest construction enterprises, delivering comprehensive civil engineering and large-scale construction projects across the globe. PowerChina will finance, build, operate, and market product from the OBP on an accelerated basis, with a commitment towards first cashflow in calendar year 2026, while PLC retains majority of profit over life of the asset.
The maiden Ore Reserve for OBP was prepared in accordance with the JORC Code (2012). The Reserve is based on Measured and Indicated Mineral Resources within the Western Area and incorporates all relevant modifying factors including mining, metallurgical, economic, marketing, legal, environmental, social, and governmental considerations.
Ore Reserves represent the economically mineable part of the Mineral Resources. Measured Resources have been converted to Proved Reserves and Indicated Resources to Probable Reserves. Inferred Resources are not included in the Ore Reserve estimate.
Ore Reserve Summary
- Total Ore Reserve: 30.6 Mt, containing 3.5 Mt of magnetite concentrate and ~21,100 tonnes of zircon.
- Construction sand by-product: 15.2 Mt contained within Probable Reserves.
- Proved Reserves derived from the pilot pit area with close-spaced drilling; Probable Reserves from broader Indicated Resources.
- Inferred Resources are excluded from the Reserve statement in compliance with JORC (2012).
Targeted commencement of production is June 2026, with an annual output target of 300,000 tonnes of Magnetite.
The successful development of Orokolo Bay will provide the opportunity for PLC to develop a broader portfolio of Industrial Sands projects and potentially lay the foundation for other downstream processing and production industries.
| Category | Ore (Mt) | DRT % | Fe % | Ti % | Zircon (PPM) | Contained DTR (Mt) | Contained Fe (Mt) | Zircon (t) | Constrution Sand (Mt) |
|---|---|---|---|---|---|---|---|---|---|
| Proved | 1.0 | 13.99 | 14.01 | 2.46 | 900 | 0.14 | 0.14 | 900 | - |
| Probable | 29.6 | 11.36 | 12.22 | 1.69 | 682 | 3.36 | 3.36 | 20,200 | 15.2 |
| Total | 30.6 | 11.45 | 12.28 | 1.72 | 689 | 3.51 | 3.76 | 21,100 | 15.2 |
Orokolo Bay Production
The Orokolo Bay Project will produce magnetite, zircon heavy mineral concentrate and silica construction sands for export to Australasian markets including China, Japan and Australia.
Proposed specification for the Project VTM:
| Typical Chemical Analysis after Processing | |
|---|---|
| Fe | 57-58.0% |
| SiO₂ | 1.8-2.3% |
| Al₂O₃ | 2.1% |
| TiO₂ | 12.9% |
| P | 0.06% |
| V₂O₅ | 0.48% |
| S | 0.012% |
| CaO | 0.40-0.55% |
| MnO | 0.68% |
| MgO | 1.60-1.70% |
| K₂O | 0.030% |
| Specific gravity | 5.0 g/cm³ |
| Bulk density | 2.74 g/m³ |
| Angle of repose | 30° |
| Hardness (MOHS) | 5.5-6.5 |
| Melting point | 1565 c° |
| Free moisture content at 105° C | Max 7% |
| Typical size Distribution | |
|---|---|
| Aperture (μm) | Wt % (retained) |
| +300 | 0.7 |
| +150 | 33.2 |
| +125 | 19.4 |
| +106 | 17.0 |
| +90 | 18.9 |
| +75 | 7.1 |
| +45 | 3.0 |
| -45 | 0.7 |
| 100% |