NAP Outlines Plans to Extend LDI Mine Life
“We are pleased to report another strong quarter at LDI, with palladium production increasing by 7% over the same period last year based on higher underground and surface ore production,” said Jim Gallagher, president and CEO of NAP. “These excellent production results combined with strong palladium prices resulted in an increase in revenue of 48% and adjusted EBITDA of more than $100 million year to date.”
The company announced the results of a new feasibility study for LDI, which outlined a new plan to extend the mine life, generate increased cash flow by optimizing resources formerly included in the Roby open-pit pushback plan, and by added reserves that were previously left unmined in the open-pit design. This new approach will take full advantage of LDI’s large, lower-grade near-surface resources and allow for the mining of more resources at an improved grade than contemplated in the prior 2017 feasibility study.