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- Approval received for Environmental Impact Manifest
- Average annual production, for the first six years of production:
- Copper cathode: 56,697 tonnes
- Cobalt cathode: 1,708 tonnes
- Zinc contained metal: 25,364 tonnes
- Proven and probable reserves provide for 23 year mine life
- Measured and Indicated resources: 265 million tonnes grading 1.50% copper equivalent
- Inferred resources: 159 million tonnes grading 1.15% copper equivalent
- Minority partnership agreement signed with a Consortium of Korean companies for US$294 million (cash and project funding)
- The Consortium members include:
- Korea Resources Corporation
- LS Nikko Copper Inc.
- Hyundai Hysco Co. Ltd.
- SK Networks Co. Ltd.
- Iljin Copper Foil Co. Ltd.
- Capital and Operating Cost review completed and released January 15, 2010. Robust economics confirmed:
- After-tax IRR of 25.6% using SEC guidelines, or 27.9% at current market prices.
- After-tax NPV (at 8% discount rate) of $1.306 billion using SEC guidelines or $1.473 billion at current market prices.
- Construction financing progressing with aid of Endeavour Financial International
- Re-commencement of full construction activities anticipated in 2nd half 2010. Production start-up expected in 2012.
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