Avenira hoping for FID by 2020

Phosphate developer Avenira is targeting a final investment decision on its Baobab project, in Senegal, in the first half of 2020, following the release of a positive feasibility study. Based on a one-million-tonne-a-year phosphate rock concentrate capacity, the feasibility study estimated that the project would require an investment of A$254-million, and would have a pay-back period of 3.3 years. The study estimated a post-tax net present value of A$294-million and an internal rate of return of 25.5%, with a free cash flow of A$756-million and earnings before interest, taxes, depreciation and amortization of A$1.4-billion over the initial 13.4-year mine life.