“The Copper division started operation in late 2014. This was done as a conclusion to the findings during the Iron Ore exploration and exploitation stages."
Though it was already know that the area was of IOCG origin, the initial emphasis that was given to the project was towards Iron Ore without considering the presence of other valuable minerals. The Copper and Gold surfaced over and over again, and it was decided in October 2014 to run trials.
Though it was already know that the area was of IOCG origin, the initial emphasis that was given to the project was towards Iron Ore without considering the presence of other valuable minerals. The Copper and Gold surfaced over and over again, and it was decided in October 2014 to run trials.
The “Trials” where conducting using the local purchasing power offered by Enami, which have a plant in Mantos Blancos, a division of Anglo American. This government organisation is obliged to purchase all and any materials offered by local producers with regards to Copper and Gold.
The initial “Trials” where very successful, and it was identified that part of the stripping was made of Copper Oxidised material. This was great news, since the main body could be reached by exploiting the Copper Oxides and the opening of the pit (stripping) would therefore be financed by the Copper Oxides sales to Enami.
The exploitation of Copper Oxides has been ongoing from January 2015, and all permits were acquired for a 5,000 tonnes exploitation, which allows for a revenue of around 200,000 usd/month.
The initial “Trials” where very successful, and it was identified that part of the stripping was made of Copper Oxidised material. This was great news, since the main body could be reached by exploiting the Copper Oxides and the opening of the pit (stripping) would therefore be financed by the Copper Oxides sales to Enami.
The exploitation of Copper Oxides has been ongoing from January 2015, and all permits were acquired for a 5,000 tonnes exploitation, which allows for a revenue of around 200,000 usd/month.
The total cost for exploitation and delivery to Enami is 65,000 usd approximately for 5,000 tons. This material is delivered as is, “ROM” (run off mine) without any process or treatment costs, generating a profit of 135,000 usd/month, equivalent to 130% profit.
