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Mining starts at Productora

Wednesday, July 22nd, 2020

Mining has started at the Productora copper project, in Chile, some four months ahead of schedule.

The company told shareholders that the recent increases in copper and gold prices has resulted in the push for earlier production.

Chilean government agency ENAMI has moved to appoint an experienced local mining group and will coordinate the necessary approval for mining at the project. In addition, the partners were also in discussions to expand the scale of the existing 120 000 t/y lease mining and processing agreement at Productora.

 

“We have been able to deliver a unique transition from explorer and project developer to producer without the requirement for capital or operating costs. Even more unique is to have achieved this in partnership with the government of Chile, while safe-guarding jobs in the local community in which we operate,” said MD Christian Easterday.

“Higher copper and gold prices in combination with high-grade ore production is set to deliver stronger than anticipated first revenue. This is welcome news ahead of our plans to shortly unveil a maiden resource estimate for our neighboring world-class Cortadera copper/gold discovery.”

Hot Chili currently has a two year concession for lease mining and processing some 120 000 t/y of ore through ENAMI’s Vallenar plant, some 15km from Productora, with an option to extend the agreement by a further year.

The Productora joint venture company will be paid $2/t of ore processed and a 10% royalty for the sale value of extracted minerals.

https://www.miningweekly.com/article/mining-starts-at-productora-2020-07-22
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