Name of the Project
Pedra Branca copper/gold project.

Location
Pedra Branca is located in the southern part of the Carajás in the state of Pará, in the north of Brazil.

Project Owner/s
OZ Minerals.

Project Description
The Pedra Branca project is based on an underground mine and preconcentration facility at the Pedra Branca site, with preconcentrated ore to be transported and then processed at the existing Antas flotation plant.

The project base case envisages a one-million-tonne-a-year sublevel open stope copper/gold mine, with an eight-year mine life and production post ramp up of 18 000 t/y of copper and 11 000 oz/y of gold, supported by a maiden ore reserve of five-million tonnes grading 2.1% copper and 0.5 g/t gold.

The preconcentration plant and supporting facilities will be constructed concurrently with the decline and lateral development excavation. Minimal changes will be required for the Antas plant operating configuration.

An ore sorting plant will be built at Pedra Branca.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a post-tax net present value, at a 10% discount rate, of $55-million and an internal rate of return of about 27%, with a payback of about eight months.

Capital Expenditure
The initial capital cost of the project is estimated at about $35-million.

Planned Start/End Date
Full production rates are expected by the first quarter of 2022.

Latest Developments
A final investment decision was taken in November 2019.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
OZ Minerals, tel +61 8 8229 6600 or email info@ozminerals.com.