https://www.miningweekly.com
Copper|Gold|Mining|PROJECT
Copper|Gold|Mining|PROJECT
copper|gold|mining|project

Mining starts at Productora

22nd July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Mining has started at the Productora copper project, in Chile, some four months ahead of schedule, ASX-listed Hot Chili reported.

The company told shareholders that the recent increases in copper and gold prices have resulted in the push for earlier production.

Chilean government agency ENAMI has moved to appoint an experienced local mining group and will coordinate the necessary approval for mining at the project. In addition, the partners were also in discussions to expand the scale of the existing 120 000 t/y lease mining and processing agreement at Productora.

“We have been able to deliver a unique transition from explorer and project developer to producer without the requirement for capital or operating costs. Even more unique is to have achieved this in partnership with the government of Chile, while safe-guarding jobs in the local community in which we operate,” said MD Christian Easterday.

“Higher copper and gold prices in combination with high-grade ore production is set to deliver stronger than anticipated first revenue. This is welcome news ahead of our plans to shortly unveil a maiden resource estimate for our neighbouring world-class Cortadera copper/gold discovery.”

Hot Chili currently has a two-year concession for lease mining and processing some 120 000 t/y of ore through ENAMI’s Vallenar plant, some 15 km from Productora, with an option to extend the agreement by a further year.

The Productora joint venture company will be paid $2/t of ore processed and a 10% royalty for the sale value of extracted minerals.

Edited by Creamer Media Reporter

Comments

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.926 0.974s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: