Dual-listed Ivanhoe Electric has announced the results of an initial assessment for its Santa Cruz underground copper project, in Arizona, which the company sees as a potential new source of 'responsibly produced ‘green’ copper” to enhance US supply chain independence. The assessment outlines a potential 5.9-million tonnes a year underground mining operation, supported by 105.2-million tonnes of modelled mill feed with an average grade of 1.58% copper, resulting in a 20-year mine life.
Dual-listed Ivanhoe Electric has announced the results of an initial assessment for its Santa Cruz underground copper project, in Arizona, which the company sees as a potential new source of "responsibly produced ‘green’ copper” to enhance US supply chain independence.
The assessment outlines a potential 5.9-million tonnes a year underground mining operation, supported by 105.2-million tonnes of modelled mill feed with an average grade of 1.58% copper, resulting in a 20-year mine life. The Santa Cruz mine will produce one-million tonnes of 99.99% pure copper cathode and 0.6-million tonnes of copper contained in a 48% copper concentrate with low deleterious elements, such as arsenic or lead.The assessment estimates capital expenditure of $1.15-billion, with a an aftertax net present value of $1.3-billion at an 8% discount rate and an internal rate of return of 23%.
“Using primarily onsite renewable electricity generation, and with the potential to increase that to meet the project’s entire future needs, the initial assessment shows us that we are on the right track to achieving our goal at Santa Cruz and our larger goal of enhancing the US supply chain independence for critical minerals.”
The initial assessment focuses exclusively on the high-grade exotic, oxide and enriched domains of the Santa Cruz and East Ridge Deposits. The oxide and enriched domains of the Texaco deposit are not included in the current study . Future studies could evaluate the potential addition of the large primary sulphide domains at Santa Cruz and at the Texaco deposit , subject to market conditions.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mining Billionaire Robert Friedland Ramps Up Output Of Electric Metals Needed To Power The Green EconomyFriedland’s Toronto-listed Ivanhoe Mines and New York-listed Ivanhoe Electric are both stepping up production.
Read more »
Hoda celebrates Haley and Hope's first day of school: 'I was so excited'Hoda's daughters 'were busting,' she shared.
Read more »
Bryce Young on Jalen Milroe: ‘Super excited for him’The No. 1 pick in the 2023 NFL Draft took note of his former backup’s performance in Alabama’s season-opening game.
Read more »
13 New And Returning TV Shows To Get Excited About This SeptemberThere are so many incredible shows coming this month, like the final season of Sex Education, Gen V (aka the new spinoff of The Boys), Season 3 of The Morning Show, and more!
Read more »