Wedoany.com Report on Feb 3rd, Canadian Energy Metals Corp. recently announced the results of a preliminary economic assessment for its Thor Alumina Project. The Calgary-based private company plans to develop an alumina production facility in east-central Saskatchewan, with the project estimated to be worth approximately $6.3 billion (C$8.6 billion).

The company's CEO, Christopher Hopkins, stated that the deposit has the potential to provide Canada with a domestic source of alumina, a key raw material in the aluminum production process. The project site is located near the town of Tisdale.

"This preliminary economic assessment confirms that the Thor Project could be a game-changer for the North American aluminum supply chain," Hopkins said in an interview with The Northern Miner. "Our next steps will focus on designing a demonstration facility while advancing the Thor Project towards commercialization."

According to the assessment report, the Thor Project is planned as a 25-year open-pit mine and associated processing plant. Using a 10% discount rate, the project's after-tax net present value reaches $7.23 billion, with an internal rate of return as high as 72%. Within this year, the company plans to update resource estimates, advance pilot work for smelter-grade alumina and potential scandium and vanadium by-product streams, and complete engineering design for the demonstration plant while evaluating financing options.

The released preliminary economic assessment provides important economic feasibility support for Canadian Energy Metals' Thor Alumina Project. The advancement of this project will help enhance the stability of the aluminum supply chain in North America and bring new industrial development opportunities to Saskatchewan.