Appoints WorleyParsons as Pre-Feasibility Study Manager for the Barrow Creek 1 Phosphate Project
Perth, Aug 20, 2013 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) is pleased to announce the appointment of the leading global engineering group WorleyParsons as Study Manager for the Barrow Creek 1 Phosphate Project Pre-Feasibility Study ("PFS").
Rum Jungle Resources Limited intends to progress the development of its Barrow Creek 1 phosphate project located in the western Georgina Basin of the Northern Territory, Australia, approximately 90 km from the Central Australian Railway. The study will aim to combine the existing RUM resources at Barrow Creek 1 and the adjoining Central Australian Phosphate Arganara phosphate resources, over which RUM now has control and a 71% interest, into a single resource and development project to maximise value to shareholders. The project intends to supply regional phosphate fertiliser markets where rapidly increasing demand is underpinned by the growing middle class in Asia increasing the need for higher quality food and crop yields from available arable land.
Chris Tziolis, an Executive Director of RUM stated "When you balance the resource size and quality, its proximity to existing transport infrastructure and growing markets in Asia and potentially within Australia, in combination with the phosphate development experience of WorleyParsons' project team, I believe these sum to make this one of the leading undeveloped phosphate opportunities in the world today".
WorleyParsons appointment as the PFS Study Manager followed a competitive tendering process which included proposals from a number of leading contractors.
WorleyParsons, through their Melbourne based 'Phosphate Centre of Excellence' were able to demonstrate industry leading experience, delivery of projects of similar scale, successful record with smaller companies, innovative solutions, credibility with financial markets, Northern Territory experience and a 'study-to-operations support' capability.
Key deliverables will include continued development of mining and processing requirements and mass balances, mechanical layout of the processing plant and other mine site infrastructure, overall plot plan for the arrangement of the operational site, transport systems, a marketing strategy for phosphate products and further refinement of capital and operating cost estimates.
WorleyParsons has extensive experience in similar scale phosphate processing and infrastructure facilities. They are currently engaged in feasibility studies; front end engineering design and Engineering, Procurement and Construction Management (EPCM) delivery projects both in Australia and overseas in countries such as Saudi Arabia, Canada, Egypt and Brazil. They currently have about 40,000 personnel located in 165 offices in 43 countries.
Importantly for Rum Jungle Resources, WorleyParsons has substantial expertise in phosphate metallurgy and processing, the engineering of phosphate beneficiation, phosphoric acid based fertiliser production and the infrastructure necessary to support a phosphate project. The team members selected have had extensive experience working with the phosphate projects in the surrounding Georgina Basin and international phosphate projects.
The Rum Jungle Resource project is by world standards a large, shallow, high grade ore which is close to critical infrastructure. The appointment of WorleyParsons to manage the PFS is the next logical step in bringing this project on-stream.
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
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