Canadian Metals Completes PEA for Langis Siliceous Sandstone Project, Quebec
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Canadian Metals Inc. has completed a positive PEA study for the Langis siliceous sandstone project.
The PEA was completed by Viridis.iQ GmbH in collaboration with GeoLogic, GeoForbes and Biofilia, respectively responsible for metallurgy and mineral processing, resource estimate and environmental. The PEA study demonstrates that the project has robust economics and potential to become a profitable producer of silicon metal. The quarry life is estimated at a minimum of 35 years based on measured resources. According to the PEA, there will be metallurgical grade silicon metal mgSi production of 50,000 tonnes per year in Phase 1 and microsilica - high quality production of 24,000 tonnes per year in Phase 1.
“The project economics are robust and I am very pleased with a NPV of US$543 million after-tax. Our goal is to continue toward delivering a feasibility study before the end of Q2 2017. Quebec is emerging as a global silicon metal center driven by the ever increasing demand for solar panels and for the next generation of lithium-ion batteries and other key industries,” said Stephane Leblanc, president and CEO of Canadian Metals.
“The project capitalizes on the unique benefits of both the Langis Deposit and Canadian Metal’s position in the field of newcomers to the metallurgical silicon world. This PEA is the result of a rigorous technical and economic assessment of the project fundamentals and reflects the seriousness and diligence of Canadian Metals to its investors and stakeholders. Metallurgical silicon remains a key raw material to sustain the world’s increasing renewable energy demands, which will continue to grow as solar energy is globally disseminated and the Canadian Metals project will be instrumental in providing a source of this material to the solar and other key industries,” said Lou Parous, executive director of Viridis.iQ GmbH.
About Canadian Metals
Canadian Metals Inc. is focused exclusively on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The company is rapidly positioning itself to eventually become a North American silicon metal producer.
To stop by Canadian Metals’ website, CLICK HERE
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