Metminco to decide on Los Calatos PFS this quarter
PERTH (miningweekly.com) – Dual-listed explorer Metminco was looking to advance its Los Calatos copper/molybdenum project, in Peru, to the prefeasibility study (PFS) stage after announcing a further upgrade to the project’s mineral resource.
The company said this week that the Los Calatos project had 7.7-million tons copper equivalent metal available for extraction from future openpit and underground operations.
The mineral resource amenable to openpit mining amounted to some 274-million tons, including an inferred resource of 21-million tons, while the mineral resource amenable to underground bulk mining amounted to more than one-billion tons, including an inferred resource of 302-million tons, at 0.61% copper equivalent.
“Our internal mining optimisation study, as well as this resource update, have been effective in identifying the most attractive development scenario for the Los Calatos project in the current economic environment,” said Metminco MD William Howe.
“These are both considerable achievements for Metminco and we are now in a strong position to concentrate on finalising cost estimates and mine plans, and to advance the project to the prefeasibility study phase.”
Howe noted that the preferred development of a smaller-scale openpit operation, followed by an underground bulk mining process, focused on achieving the optimal return on capital for the company.
A decision on whether to start the PFS for the Los Calatos project was expected in the first quarter of this year.
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