YERINGTON, Nev., March 01, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) is pleased to provide an update on its development objectives for its Pumpkin Hollow project Learn More
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The Company’s updated development objectives reflect internal studies regarding project optimization and expansion options, as well as the evolution of the copper market. These development objectives aim to further demonstrate the potential of Nevada Copper’s large strategic land holding and organic pipeline (see Figure 1)
“We are pleased to outline our 2021 development objectives,” stated Mike Ciricillo, Chief Executive Officer. “While remaining focused on safely ramping up the underground mine to full capacity, our team is also looking ahead at growth initiatives. We are fortunate to have such growth opportunities within the Pumpkin Hollow project district, including one of the few fully permitted, large-scale copper projects in North America today. Our strategic landholding with multiple copper targets provides an organic growth pipeline, allowing us to leverage our knowledge of the region and highly capable and dedicated team.”
Since the publication of 2019 Open Pit Pre-Feasibility Study (“PFS”), multiple project scale options have been evaluated, indicating substantial upside to project economics through larger scale options
The development case presented in the PFS assumed a 37,000 tons per day (“tpd”) initial stage with an expansion to 70,000 tpd six years later, and a pit shell which was designed to maximize IRR at US$2.50/lb copper
After completing the planned open pit drilling, the Company intends to update its open pit resource and reserve estimates. If the drilling is successful in converting waste to ore, the Company will aim to increase copper resources, which could further improve project economics
The Kamoa-Kakula Copper Project — a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%) — has been independently ranked as the world's largest, undeveloped, high-grade copper discovery by international mining consultant Wood Mackenzie. It is a very large, near-surface, flat-lying, stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometres west of the town of Kolwezi and about 270 kilometres west of the provincial capital of Lubumbashi
Initial production at the Kakula Mine processing plant is scheduled in July 2021. Kakula is projected to be the world’s highest-grade major copper mine, with an initial mining rate of 3.8 million tonnes per annum (Mtpa) at an estimated average feed grade of more than 6.0% copper over the first five years of operation. Kakula is the first of multiple, planned, high-grade mining areas on the 400-square-kilometre Kamoa-Kakula mining licence.
The Kakula Mine will have one of the most favourable environmental footprints of any tier-one copper mine worldwide. The mine will be powered by clean, renewable hydroelectricity and be among the world's lowest greenhouse gas emitters per unit of copper produced. Kakula also will have a relatively small surface footprint, as approximately 55% of the mine’s tailings will be pumped back into underground workings
All long-lead items for Kakula’s initial 3.8-Mtpa processing plant now have been delivered to site with the exception of the transformers, which are currently en route and expected around the third week of October
On October 1, 2020, Ivanhoe Mines announced that underground development at the Kamoa-Kakula Copper Project totalled 2,069 metres in September, setting a new monthly record for the project and bringing the total underground development to more than 22.6 kilometres – approximately 7.0 kilometres, or 44% ahead of schedule
The project’s monthly total of 2,069 metres of underground development is comprised of 1,696 metres at the Kakula Mine and 373 metres at the Kansoko Mine, which is located at the Kamoa Deposit – approximately 10 kilometres north of the Kakula Mine
FLAGSTAFF, Ariz. (AP) — The U.S. Forest Service released an environmental review Friday that paves the way for the creation of one of the largest copper mines in the United States, against the wishes of a group of Apaches who have been trying for years to stop the project
The Forest Service now has 60 days to turn over a tract of land in Tonto National Forest east of Phoenix to Resolution Copper Mining, a joint venture of the international mining companies Rio Tinto and BHP.
The mountainous land near Superior, Arizona, is known as Oak Flat or Chi'chil Bildagoteel. It's where Apaches have harvested medicinal plants, held coming-of-age ceremonies and gathered acorns for generations. An area where dozens of warriors leapt to their deaths from a ridge adjacent to the proposed copper mine, rather than surrender to U.S. forces during westward expansion, is protected as a special management area.
A judge late Thursday denied a request from Apache Stronghold, a group led by former San Carlos Apache Chairman Wendsler Nosie Sr., to halt the publication until a larger question over who legally owns the land is settled
U.S. District Court Judge Steven Logan in Phoenix said he recognized “the anxiety that having one’s sacred land taken from them and used for purposes that run counter to their spiritual beliefs, might cause.”
Nosie's group alleged violations of religious freedom and constitutional rights in the federal lawsuit filed this week. It also contends the Forest Service legally can't transfer the land because it belongs to Apaches under an 1852 treaty
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