Atlas Salt Inc. Releases Updated Feasibility Study on Great Atlantic Salt Project

Vulcan Minerals Inc., based in St. John's, NL, announced that Atlas Salt Inc. has unveiled an enhanced Updated Feasibility Study (UFS) for the Great Atlantic Salt project in western Newfoundland. Prepared by SLR Consulting with contributions from various engineering specialists, the study confirms the project's large scale, high purity, and low-cost attributes.

The study adheres to AACE guidelines for capital and operating cost estimations, with an initial capital cost accuracy range of -10% to +30%. The findings predict a pre-tax NPV of $1.68 billion and an IRR of 27.1%. Post-tax projections include an NPV of $920 million and an IRR of 21.3%. The estimated post-tax payback period is 4.2 years.

The project's life of mine is anticipated to be 24 years, with an average annual salt production of 4 million tonnes. Vulcan Minerals holds a significant stake in Atlas Salt and expects continued progress toward production.