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McEwen Mining Inc.
Summary
| Project: | Los Azules | |
|---|---|---|
| Deposit: | Los Azules | |
| Location: | Argentina | |
| Commodities: | Copper-Gold-Molybdenum-Silver | |
| Date: | 9/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-9-2017: McEwen Mining Inc. announces a PEA report for its Los Azules deposit at the Los Azules project. PEA returns results of NPV (8%) US$2.239B, IRR 20.1%. The Los Azules Project is a porphyry copper development project located in the Andes Cordillera | |
| Resources: | (Resource, Ind.): 962Mt @ 0.48% Cu, 0.06g/t Au, 0.003% Mo, 1.8g/t Ag at project | |
| CP/QP: | [Resources]: Robert Sim (Sim Geological Inc.) | |
| ABSTRACT: | The Los Azules Project is a porphyry copper development project located in the Andes Cordilleran region of San Juan Province, Argentina near the border with Chile. A Preliminary Economic Assessment (scoping study) was completed in 2009 and updated in 2010, 2013 and is now updated with this 2017 PEA update. This 2017 PEA reflects a revised flowsheet and updated economic parameters such as capital and operating costs and new financial model inputs, etc. The Los Azules Project is an open pit mine and concentrator plant that produces a copper concentrate as the final product for export. Ancillary facilities including the Tailings Storage Facility and the Waste Rock Storage Facility have also been updated for optimized development that now minimises the vertical and horizontal material haulage elements, and provides for gravity deposition of the tailings for the life of mine operations. The 2017 PEA also incorporates an updated development strategy of a phased implementation approach with an initial Phase 1 processing rate of 80,000 tons per day increasing by 50% for Phase 2 to 120,000 tonnes per day in Year 5 through to the completion of processing in Year 36. In terms of the Los Azules Development budget, Figure 1-1 illustrates that the Capital Intensity to deliver the Los Azules Project is aligned to other large copper projects implemented during the previous 20 years. Annual Copper Production is shown in the Figure 1-2 data set. Los Azules will rank as the 22nd largest copper producer for the first 13 years and rank 33rd when measured over the 36 years of processing operations. | |
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