Name of the Project
Proyecto Touro copper project.
Location
The project is located in the A Coruña province of the Galicia region, in north-west Spain.
Project Owner/s
Atalaya Mining.
Project Description
A prefeasibility study (PFS) on Atalaya Mining’s proposed Proyecto Touro copper project has determined that it will be profitable. It comprises several deposits of which four – Arinteiro, Vieiro, Bama and Brandelos – have previously been mined; and two – Monte de las Minas and Arca – have not been mined.
The project has proven and probable reserves of 90.91-million tonnes grading 0.43% copper, for contained copper of 392 000 t.
The PFS envisages the construction of an openpit mine and concentrator, with average yearly production of 30 000 t of copper and 70 000 oz of silver in concentrate.
The proposed flowsheet uses conventional crushing and semiautogenous/ball mill grinding, followed by a flotation recovery circuit and concentrate thickening and filtration.
The concentrator and associated service facilities are designed for an initial Phase 1 plant of six-million tonnes a year and then a Phase 2 upgrade to increase plant throughput to ten-million tonnes a year before Year 8.
The project will use in-pit tailings disposal for a substantial part of the mine life, owing to the multiple pit mine operating plan.
During the initial years of operation, tailings will be stored in a surface tailings management facility (TMF). After Year 8, tailings will be stored in the exhausted Vieiro and Arinteiro openpits. The surface TMF will have an impervious liner and a capacity of 44-million tonnes of tailings, while the in-pit TMF will store 47-million tonnes of tailings.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a post-tax net present value, at an 8% discount rate of $180-million using a long-term copper price of $3/lb and an unlevered internal rate of return of 20.5%.
Capital Expenditure
Preproduction capital expenditure is estimated at $165-million, with an additional expansion capital estimate of $30-million in Year 8.
Planned Start/End Date
The project will take two years to develop and will operate for 12 years.
Latest Developments
The Environment Department of the Xunta de Galicia has formally issued a negative impact declaration for Proyecto Touro, denying Atalaya Mining’s application to restart copper production at the former openpit mine.
The regional government turned down the project’s environmental-impact assessment in January, citing concerns about the mine’s impact on the Ulla river and associated protected ecosystems.
Atalaya assessing its options to progress Proyecto Touro, which could include several types of appeal or modified project proposals to address the concerns of the Xunta de Galicia.
It has also indicated that the restart proposal for Proyecto Touro includes managing past environmental liabilities and using transfer mining techniques with zero water discharge. Flotation tailings are to be stored in a plastic-lined impoundment built with compacted rock walls using techniques similar to those used in water dam construction.
Key Contracts and Suppliers
None stated.
Contact Details for Project Information
Atalaya Mining, tel +357 2244 2705 or email info@atalayamining.com.