| | Published : June 14th, 2011 | Xstrata Copper to Start Lomas Bayas Sulphides Project Prefeasibility Study |
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Xstrata
Copper's Executive Committee has approved the start of a prefeasibility study
to evaluate the development of the copper sulphide deposit located below the
current pit of the Lomas Bayas operation in northern Chile's Antofagasta
Region. The approval follows the Committee's review of the recommendations of
the concept study carried out over the last two years.
The new
study will assess a possible investment of US$1.6 billion to expand annual
production to 140,000 tonnes of copper in the form of concentrates and cathodes
and to extend the life of the Lomas Bayas operation to 2039. It is expected
that the prefeasibility study, which will comprise new drilling, metallurgical
tests and geomechanical studies, will be completed at the end of 2012.
Subject to
positive feasibility studies and government and company approvals, it is
estimated that the Lomas Bayas sulphide project could start production in 2017.
The project considers a concentrator plant with a processing capacity of 70,000
tonnes per day and the use of seawater for its operation..
Lomas Bayas
General Manager Luis Rosales said: "The approval to advance to the next
stage in studies of the Lomas Bayas sulphide project is a further example of
Xstrata Copper's strategy to increase the value of our operations through
extensions to mine lives and brownfield expansions. The project forms an
important part of the growth plans that Xstrata Copper has in Chile".
"The
Lomas Bayas sulphide project will allow us to sustain the operation over the
long-term and thereby continue to contribute to the development of the region
and of the country, benefitting both the company and our employees, communities
and suppliers," added Rosales.
The
prefeasibility study will allow Lomas Bayas to optimise mine and production
plans, estimate costs more precisely and advance towards the feasibility stage.
In addition, the study will assess synergies and scale economies with the Lomas
Bayas II project which is currently under construction and will extend the
operation's useful life by more than ten years to 2023 at the current
production rate of 75,000 tonnes per annum.
In December
2010, Xstrata Copper announced an upgraded mineral resource estimate for the
Lomas Bayas sulphide project, based on 121 drill holes (50,410 metres). The
improved estimate totals 435 million tonnes at an average grade of 0.39%
copper, using a 0.2% copper cut-off grade, and includes molybdenum, gold and
silver credits.
Associated
with the potential sulphide pit, there are also 408 million tonnes of leachable
oxide and mixed mineral resources with an average grade of 0.26% copper.
Viviana Alarc�n
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Emily Russell
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Telephone
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+562 478 2235
|
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Telephone
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+562 478 2204
|
Mobile
|
+569 9552 4557
|
|
Mobile
|
+569 9443 3571
|
Email
|
valarcon@xstratacopper.com
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|
Email
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erussell@xstratacopper.com
|
Xstrata Copper is the fourth
largest global copper producer with attributable mined production in 2010 of
913,500 tonnes of copper in cathodes and concentrates. The company is also one
of the world's largest producers of smelter and refined copper, including from
third party materials.
Headquartered in Brisbane, Xstrata
Copper is one of the commodity business units within the major global
diversified mining group Xstrata plc. Its mining and metallurgical operations
and development projects span eight countries: Argentina, Australia, Canada,
Chile, Peru, the Philippines, Papua New Guinea and the USA. Its operations and projects are administered through a
regional divisional management structure, which ensures that critical decisions
are taken close to the related businesses. It also has a recycling business
(Xstrata Recycling) with plants in the United States and offices in Canada
and Asia.
In
Chile, Xstrata Copper holds a 44% stake in Compa��a Minera Do�a In�s de
Collahuasi in the Tarapac� Region and owns the Lomas Bayas mine and the
Altonorte metallurgical complex, both in the Antofagasta Region. Its Energ�a
Austral subsidiary is developing a hydroelectric project in the Ays�n Region.
In addition, Xstrata Copper owns the bi-national El Pach�n project, located in
Argentina at 5 kilometres from the border with Chile.
Lomas Bayas
is an open pit mine that produces 75,000 tonnes per annum of copper cathodes.
It began operations in 1998 and is located in Sierra Gorda, 110 km northeast of
the city of Antofagasta, in northern Chile's Antofagasta Region.The Lomas Bayas
II project, which is currently under construction, will extend the useful life
of Lomas Bayas through to 2023, maintaining its annual production level of
75,000 tonnes of copper cathodes. Lomas Bayas III, a new copper sulphides
project located beneath the existing Lomas Bayas pit, is currently under
evaluation. Lomas Bayas is part of the South American Operations Division of
Xstrata Copper.
Xstrata
Copper's Executive Committee has approved the start of a prefeasibility study
to evaluate the development of the copper sulphide deposit located below the
current pit of the Lomas Bayas operation in northern Chile's Antofagasta
Region. The approval follows the Committee's review of the recommendations of
the concept study carried out over the last two years.
The new
study will assess a possible investment of US$1.6 billion to expand annual
production to 140,000 tonnes of copper in the form of concentrates and cathodes
and to extend the life of the Lomas Bayas operation to 2039. It is expected
that the prefeasibility study, which will comprise new drilling, metallurgical
tests and geomechanical studies, will be completed at the end of 2012.
Subject to
positive feasibility studies and government and company approvals, it is
estimated that the Lomas Bayas sulphide project could start production in 2017.
The project considers a concentrator plant with a processing capacity of 70,000
tonnes per day and the use of seawater for its operation..
Lomas Bayas
General Manager Luis Rosales said: "The approval to advance to the next
stage in studies of the Lomas Bayas sulphide project is a further example of
Xstrata Copper's strategy to increase the value of our operations through
extensions to mine lives and brownfield expansions. The project forms an
important part of the growth plans that Xstrata Copper has in Chile".
"The
Lomas Bayas sulphide project will allow us to sustain the operation over the
long-term and thereby continue to contribute to the development of the region
and of the country, benefitting both the company and our employees, communities
and suppliers," added Rosales.
The
prefeasibility study will allow Lomas Bayas to optimise mine and production
plans, estimate costs more precisely and advance towards the feasibility stage.
In addition, the study will assess synergies and scale economies with the Lomas
Bayas II project which is currently under construction and will extend the
operation's useful life by more than ten years to 2023 at the current
production rate of 75,000 tonnes per annum.
In December
2010, Xstrata Copper announced an upgraded mineral resource estimate for the
Lomas Bayas sulphide project, based on 121 drill holes (50,410 metres). The
improved estimate totals 435 million tonnes at an average grade of 0.39%
copper, using a 0.2% copper cut-off grade, and includes molybdenum, gold and
silver credits.
Associated
with the potential sulphide pit, there are also 408 million tonnes of leachable
oxide and mixed mineral resources with an average grade of 0.26% copper.
Viviana Alarc�n
|
|
Emily Russell
|
Telephone
|
+562 478 2235
|
|
Telephone
|
+562 478 2204
|
Mobile
|
+569 9552 4557
|
|
Mobile
|
+569 9443 3571
|
Email
|
valarcon@xstratacopper.com
|
|
Email
|
erussell@xstratacopper.com
|
Xstrata Copper is the fourth
largest global copper producer with attributable mined production in 2010 of
913,500 tonnes of copper in cathodes and concentrates. The company is also one
of the world's largest producers of smelter and refined copper, including from
third party materials.
Headquartered in Brisbane, Xstrata
Copper is one of the commodity business units within the major global
diversified mining group Xstrata plc. Its mining and metallurgical operations
and development projects span eight countries: Argentina, Australia, Canada,
Chile, Peru, the Philippines, Papua New Guinea and the USA. Its operations and
projects are administered through a regional divisional management structure,
which ensures that critical decisions are taken close to the related businesses.
It also has a recycling business (Xstrata Recycling) with plants in the
United States and offices in Canada and Asia.
In
Chile, Xstrata Copper holds a 44% stake in Compa��a Minera Do�a In�s de
Collahuasi in the Tarapac� Region and owns the Lomas Bayas mine and the
Altonorte metallurgical complex, both in the Antofagasta Region. Its Energ�a
Austral subsidiary is developing a hydroelectric project in the Ays�n Region.
In addition, Xstrata Copper owns the bi-national El Pach�n project, located in
Argentina at 5 kilometres from the border with Chile.
Lomas Bayas
is an open pit mine that produces 75,000 tonnes per annum of copper cathodes.
It began operations in 1998 and is located in Sierra Gorda, 110 km northeast of
the city of Antofagasta, in northern Chile's Antofagasta Region.The Lomas Bayas
II project, which is currently under construction, will extend the useful life
of Lomas Bayas through to 2023, maintaining its annual production level of
75,000 tonnes of copper cathodes. Lomas Bayas III, a new copper sulphides
project located beneath the existing Lomas Bayas pit, is currently under
evaluation. Lomas Bayas is part of the South American Operations Division of
Xstrata Copper.
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Xstrata plc
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PRODUCER |
CODE : XTA.L |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Xstrata is a zinc and lead producing company based in Switzerland. Xstrata produces zinc, lead, bauxite, coal, cobalt, copper, gold, molybdenum, nickel and silver in Argentina, in Australia, in Botswana, in Canada, in Chile, in Colombia, in Jamaica and in Peru, develops cobalt, copper, copper , gold, lead, molybdenum, nickel, palladium, platinum, silver, uranium and zinc in Argentina, in Australia, in Canada, in Chile, in Dominican Republic, in New Caledonia and in Philippines, and holds various exploration projects in Argentina, in Australia, in Botswana, in Brazil, in Canada, in Chile, in Greenland, in Ireland, in Mexico, in Norway, in Panama, in Papua New Guinea, in Peru, in South Africa, in Turkey and in Yemen. Its main assets in production are ALUMBRERA in Argentina, KIDD CREEK MINE (MINE D), CRAIG - ONAPING (SUDBURY) MINE, PELLETIER LAKE (STADACONA MINE), LINDSLEY MINE, NORALEX (WEST ANSIL, HORNE, ETC), STRATHCONA, KIDD CREEK DIVISION, BUCKO LAKE, FALCONBRIDGE MINE, RAGLAN, SUDBURY, BRUNSWICK MINE and KIDD in Canada, HYC MCARTHUR RIVER, MOUNT ISA LEAD ZINC SILVER, ERNEST HENRY, BOUNTY MINE, COSMOS MINE, THUNDERBOX, EMILY ANN (LAKE JOHNSTON), MT MCCLURE, MT ISA, SILVER SWAN, MT ISA BLACK STAR, MT ISA ENTERPRISE and EMILY ANN in Australia, LOMAS BAYAS and COLLAHUASI MINE in Chile, TINTAYA, ANTAMINA, ANTAMINA and ANTAMINA ZINC ORE in Peru, PHOENIX MINE (TATI NICKEL) in Botswana, PRODECO in Colombia and ST ANN BAUXITE in Jamaica, its main assets in development are LENNARD SHELF, MAGGIE HAYS, CLONCURRY COPPER and LENNARD SHELF in Australia, CERRO DE MAIMON and FALCONDO MINE in Dominican Republic, AGUA RICA and EL PACHON in Argentina, HACKETT RIVER, PREMIERE RIDGE, ONAPING DEPTH, FRASER MORGAN, NICKEL RIM SOUTH, ONAPING DEPTH, PERSEVERANCE and PD1 in Canada, LOMAS BAYAS II in Chile, KONIAMBO in New Caledonia and TAMPAKAN in Philippines and its main exploration properties are HORNE SMELTER, ISLAND COPPER, KONRAD, MARY MARCH, MEGATEM, ROBB LAKE, AKWESKWA, MUSK, CEZINC, DONKIN, TROILUS / TORTIGNY, TORTIGNY, SABIN, CHANCE, TULKS NORTH, CATFACE, GREAT BURNT LAKE, WEST ANSIL, TULK SOUTH - DOMINO, TULK EAST B ZONE, TULK SOUTH BOOMERANG, TULK EAST A ZONE, TULK LONG LAKE MAIN ZONE, SKIDDER, MATAGAMI, HEATH STEELE MINES, GASPE MINE and MONTCALM TWP PROP in Canada, BLACK ROCK, TOBY CREEK, MUSGRAVE, MOUNT PEAKE and SINCLAIR in Australia, ELMALAAN in Turkey, MANGABAL in Brazil, KABANGA in Tanzania, FRIEDA - NENA DEPOSIT in Papua New Guinea, PALLAS GREEN in Ireland and DIKOLOTI in Botswana. Xstrata is listed in Germany and in United Kingdom. Its market capitalisation is GBX 2 893.1 billions as of today (US$ 4 497.6 billions, € 3 435.7 billions). Its stock quote reached its lowest recent point on April 30, 2013 at GBX 963.50, and its highest recent level on May 02, 2013 at GBX 999.70. Xstrata has 3 002 692 076 shares outstanding. |
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