Included within the sources have been confirmed and possible reserves of 702 million tonnes averaging 0.24% copper, 0.10 g/t gold and 0.71 g/t silver, for 3.7 billion lb. of copper, 2.3 million oz. of gold and 16 million oz. of silver.
Incorporating the up to date reserve base, the Copper Mountain mine plan has been prolonged to 32 years with the 65,000 t/d growth commencing in 2028. Annual manufacturing is projected at 114 million lb. of copper, 54,000 oz. of gold and 367,000 oz. of silver.
The revised lifetime of mine plan additionally leads to strong economics of $1.24 billion in after-tax web current worth (at 8% low cost), up from its earlier estimate of $1.0 billion. The preliminary capital value required to extend throughput to 65,000 t/d is estimated to be $237 million.
“These outcomes illustrate the dimensions and scale of the Copper Mountain mine,” says Gil Clausen, Copper Mountain’s president and CEO. “Our giant mineral reserves base underpins our up to date 65,000 t/d growth examine, which estimates complete manufacturing of over 4.1 billion lb. of copper-equivalent over a mine life that may lengthen past 30 years.
“Growing plant capability to 65,000 t/d requires solely modest preliminary growth capital, which is self funded with mine money movement. In truth, not solely is the Copper Mountain mine capable of fund capital required over the lifetime of mine, however it is usually anticipated to generate important free money movement past these necessities. As well as, higher-grade exploration upside stays, significantly at depth, offering additional reserve growth potential,” he provides.
With the brand new useful resource replace, the corporate’s complete mineral reserve base, together with the Eva copper venture in Australia, now stands at 5.4 billion lb. of copper and over 2.6 million oz. of gold.
The Copper Mountain mine is situated 20 km south of Princeton, BC. Mitsubishi Supplies owns the remaining 25% of the venture.
