Australian metals development company Europa Metals Ltd. plans to invest $110 million in its Toral Project in Spain.
The company said that a scoping study for the lead, zinc and silver project was based on an inferred resource estimate of 16 million tonnes at 7.5 percent zinc with lead and silver credits.
The project will have a total capital expenditure of $110 million, with $33 million required for a proposed 450,000 tonnes per year design capacity plant.
The Toral project, with an internal rate of return estimated at 24.4 percent, is expected to payback from the first production within four years.