24.4 C
Belgrade
Supported byspot_img
spot_img

KAZ Minerals has announced that the Bankable Feasibility Study for the Baimskaya copper project in Russia has been completed

Member of Europium Groupspot_img
Supported byspot_img

KAZ Minerals has announced that the Bankable Feasibility Study for the Baimskaya copper project in Russia has been completed and approved by the KAZ Minerals Ltd Board of Directors. This represents a significant project milestone enabling the group to progress with the financing and construction of this world-class copper asset.

The Baimskaya copper project is the planned development of a globally significant copper resource with a forecast capital construction cost of $8.5 billion. The mine is expected to have a life of 20+ years and will start up by the end of 2027, with average annual copper production of 300,000 t and gold production of 490,000 oz during the first ten full years of operation.

Life of mine copper and gold processing grades are estimated at 0.47% and 0.27 g/t respectively, with elevated grades expected in the early years of production. The project has competitive net cash costs and is expected to be in the first quartile on the global cost curve. Historic data and drilling conducted during the BFS indicate the potential for the mine life to be extended.

Supported by

The processing plant will have a total ore processing capacity of 70 Mt/y from two lines, building on the technologies used at the group’s Aktogay and Bozshakol mines in Kazakhstan.

Pioneering works continue at the mine site and the required infrastructure is being progressed with the Russian government in accordance with the Complex Development Plan for the Chukotka region.

A 428 km all-weather road will be constructed between the Baimskaya mine site and a new port will be built at Cape Nagloynyn for the shipment of copper concentrate to market via the Northern Sea Route. Carbon-free power will be supplied to the site from a nuclear facility to be constructed and operated by Rosatom, enabling the Group to produce very low-carbon copper.

Oleg Novachuk, Chair of KAZ Minerals, said: “The completion of the Baimskaya Bankable Feasibility Study marks an exciting milestone for KAZ Minerals as the group progresses the development of one of the world’s largest copper resources. Copper is fundamental to a more sustainable future and Baimskaya will help meet the growing demand for this metal, as well as bringing a range of benefits to Russia and its Chukotka region”.

Source: in-mining.com

Supported byElevatePR Digital

Related News

Copper prices reach 15-month highs amid supply shortages and growing demand

Copper prices have surged to their highest levels in 15 months, reaching $4.3 (€4.01) per pound in April before settling at $4.2 per pound....

Zijin Mining’s copper blending expansion: China’s growing dominance on the global stage

China's leading mining company, Zijin Mining Group, is poised to launch its latest copper concentrate blending facilities in Dongfang city, Hainan province, by the...

Challenges mount for Solaris Resources Inc.

Amidst the unfolding of the world's largest mining conference in Toronto, a Canadian company, Solaris Resources Inc., is under scrutiny as Indigenous communities in...

EU witnesses substantial drop in 2023 imports of Russian iron and steel products amid ongoing sanctions

The main share of imports falls on semi-finished products – 69.4% of the total volume of deliveries In 2023, the European Union reduced imports of...
Supported by
Supported by
Supported by
error: Content is protected !!