Name of the Project
Van Dyke in situ copper recovery project.
Location
Miami, in Arizona, in the US.
Project Owner/s
Copper Fox Metals, through its wholly owned subsidiary Desert Fox Copper Inc.
Project Description
An external, independent preliminary economic assessment (PEA) has shown robust results for the copper deposit. Van Dyke has an estimated mine life of 17 years.
The PEA envisages a project with life-of-mine copper production of 1.1-billion pounds, with peak production of 85-million pounds a year in years 2 to 12 inclusive, declining thereafter.
Underground development will be completed using conventional drill-and-blast tunnelling techniques by mining contractors, with appropriate ground support as required.
Phase 1 of the underground development is expected to be completed during the preproduction phase. The mine plan is estimated to produce about 190 000 m3 of waste rock from the underground development, which will be stored in a valley directly adjacent to the portal on land owned by Desert Fox.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a base case pretax net present value, at a 7.5% discount rate, of $798.6-million, with an internal rate of return of 48.4% and a payback of two years.
Capital Expenditure
Initial capital expenditure is estimated at $290.5-million, including a 30% contingency.
Planned Start/End Date
Not stated.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Copper Fox Metals, tel or email office@newsfilecorp.com.