Kasbah, through its Moroccan subsidiaries, hold an attractive package of tin tenements in a historical tin field in Morocco. The flagship asset is the Achmmach Tin Project (75% owned), which is the most advanced greenfield tin project in the world. In addition to the Achmmach Tin Project, Kasbah's asset includes the wholly owned Bou El Jaj Tin Project and the highly prospective regional tenements of Ment and Zaer, all of which are located within 30 kms of the proposed Achmmach tin processing facility.
The Achmmach Tin Project - the most advanced greenfield tin project in the world
Achmmach Tin Project 2018 Definitive Feasibility Study
Achmmach Tin Project 2018 DFS
In July 2018, the Group announced the very positive results from the 2018 Definitive Feasibility Study of the Achmmach Tin Project. Key highlights from the 2018 DFS include:
Front End Engineering and Design
During FY2019, as a precursor to entering into an Engineering, Procurement and Construction (EPC) contract with reputable, credit worth engineering firms, the Group undertook a Request for Proposal for the Front End Engineering and Design (FEED) scope. The FEED aimed at enhancing and improving the design and efficiencies in the processing plant, thereby reducing risk and targeting an improved EPC price for the construction of the processing plant.
The scope of the FEED included:
The FEED resulted in a number of proposed improvements to the Achmmach Tin Project, including:
The improvements and higher level of engineering design and cost detail provided further confidence in the project and confirms that capital costs of the project are within range included in the 2018 DFS. The FEED provided a well-defined scope of work for competitively tendering the EPC contract when the project progresses to implementation, along with further engineering design and project optimisation in a lead up to a project construction decision.
Independent Technical Specialists Report
Following completion of the FEED, the Company engaged AMC Consultants as the Independent Technical Expert (ITE) to complete an Independent Technical Specialists Report (ITSR) for the Achmmach Tin Project.
The ITSR was performed based on the 2018 DFS, the 2019 FEED as well as other supplementary information from work performed since the release of the 2018 DFS, including additional ventilation and geotechnical reviews.
The ITSR confirmed the technical viability of the 2018 DFS and provided certain recommendations around additional optimisation opportunities for consideration as the project is advanced towards development.
The Investment Agreement is an overarching agreement with the Moroccan Government that consolidates the various infrastructure incentives and embeds the overall fiscal regime for the Project. The Centre for Regional Investments (CRI) of the Meknès-Tafilalet region and Agence Marocaine de Développement des Investissements et des exportations (AMDIE) have reviewed and approved the Achmmach Tin Project submission, which has subsequently been approved by a national ministerial committee.
Permits and Licenses
The Environmental and Social Impact Assessment (ESIA) for the Achmmach Tin Project was completed in 2014 and in 2019, was renewed for a further five years.The ESIA is a critical permit required to operate and sets out the fundamental environmental and social compliance framework. The renewal confirmed the Company's compliance with Moroccan environmental and regulatory requirements and reaffirms the Moroccan authorities support for the project. The renewal of the ESIA was an important step in securing the tenure of the mining license.
Environmental and Social Impact Assessment
The Bou El Jaj Tin Project
Bou El Jaj Tin Project