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OZ Minerals Ltd.
Summary
| Project: | Antas North | |
|---|---|---|
| Deposit: | Clovis, Santa Lucis | |
| Location: | Brazil | |
| Commodities: | Copper-Gold | |
| Date: | 11/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-11-2019: OZ Minerals Ltd. announces a Resource Estimation report for its Clovis, Santa Lucis deposit at the Antas North project. Exploration Targets for the Clovis and Santa Lucis prospects. OZ Minerals today announced commencement of construction of t | |
| Resources: | ||
| CP/QP: | [Overall Report]: Richard Holmes (Internal) | |
| ABSTRACT: | OZ Minerals today announced commencement of construction of the Pedra Branca mine and a suite of agreements with Vale, Brazil’s largest miner and Carajás tenement holder, advancing its low risk, modest capital Carajás Hub strategy in Brazil. The OZ Minerals Board has granted final investment approval for the ~1 Mtpa Pedra Branca underground mine. Decline construction will commence in December and first development ore is targeted for mid-2020. With a mine life of eight years, Pedra Branca has a standalone net present value (NPV) of circa US$55 million for a pre-production capital investment of approximately US$35 million. When combined with the sale of concentrate to Vale, the NPV increases to circa US$75 million. Pre-concentrated ore from the Pedra Branca mine will be trucked approximately 75km to the existing Antas processing facility, making it the first spoke in the Carajás Antas Hub. OZ Minerals Brazil has also entered into a series of interlinked strategic agreements with Vale, that simplify activities and enable OZ Minerals to draw on Vale’s extensive transport network, utilise their processing facilities and access small to medium high-grade Vale exploration projects in the Carajás | |
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