Metminco Considering UG Mining at Los Calatos

Metminco Ltd. reported the results of a new mining study of its Los Calatos copper project in southern Peru. The study, completed by Runge Pincock Minarco, considers a 6-million-mt/y underground mining operation using a sublevel caving mining method. Pre-production capital expenditure is estimated at $650 million, including contingencies of $111 million. Production would average 45,000 mt/y of copper in concentrate over a mine life of 17 years. Production would peak at 56,800 mt/y of copper in concentrate.

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Lundin Stepping Up Candelaria Production

Lundin Mining has reported an updated mine plan and annual sustaining capital cost estimate for the Candelaria copper-gold mine complex in Atacama province Chile. The complex’s annual production of copper in concentrates from 2016 through 2019 is now expected to average 154,000 mt/y, up from an average of 122,000 mt/y in the previous mine plan. Production of gold and silver in concentrates is expected to average about 93,000 oz/y and 1.78 million oz/y, respectively, over the same period.

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$5B Vale Project Will Allow it to Process Lower-grade Iron Ore

With an announced investment of $5.5 billion, Vale has embarked on one of the largest revamp projects in the mining business: Itabirites. By constructing and adapting processing plants, Vale can reprocess low-grade iron ore that has been stockpiled over the last four decades. The Itabirites project will expand current production volumes and extend the lifespan of three mines: Vargem Grande near Belo Horzonte, and Conceição and Cauê, both in Itabira. Cauê was Vale’s first-ever iron ore operation, opened in 1942. The work should be completed by the start of next year.

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