McEwen Copper commits to PFS for Los Azules

Earlier this month, McEwen held a challenge improvement workshop for its senior administration and representatives from Whittle Consulting (improvement situations), Bechtel Corp. (feasibility examine for El Pachon challenge 75 km to the south of Los Azules), Samuel Engineering (challenge administration, controls metallurgy and mill design), Stantec (geology, sources, mining engineering, tailings administration, and water services), and McLennan Design (inexperienced constructing strategies). Their work suggests there’s appreciable room to enhance the economics of the Los Azules.

The preliminary financial evaluation ready in 2017 for Los Azules put the after-tax internet current worth at $2.2 billion (at an 8% low cost) and the interior price of return at 20.1%.

The examine outlined an preliminary capex requirement of $2.4 billion with payback occurring after 3.6 years. The mine has a lifetime of 36 years and can produce 415 million lb. of copper yearly for the primary 13 years at a money price of $1.14 per lb. A copper value of $3 per lb. was used within the examine.

The objective, says McEwen, is to design a mannequin copper mine for the 21st century. It would provide the uncooked materials to allow a greener world, whereas incorporating using renewable power sources to have a low-carbon footprint. Technological innovation will underpin an power environment friendly operation.

There are presently about 280 individuals, 85% of whom are from San Juan, on the Los Azules camp to conduct exploration drilling. Two of the ten rigs have been assembled and drilling will begin Jan. 4. Medical companies and emergency rescue groups have been on web site since Dec. 1. An airstrip can be constructed to facilitate the motion of individuals throughout the PFS.

Earlier this yr the corporate made a $40 million personal placement and introduced a 53,000-metre drill program to improve sources on the challenge. A second, $40 million personal placement is because of shut in January, leaving McEwen Mining with a 69% share of McEwen Copper.

(This text first appeared within the Canadian Mining Journal)

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