Cobre secures low-cost Chilean copper feed
- Cobre has secured approximately 150,000 tonnes of copper oxide material from ENAMI for its Sierra Atacama infrastructure.
- Following the announcement, Cobre's stock price was unchanged at $0.25.
- The agreement aims to increase utilisation of existing extraction infrastructure during plant expansions.
Cobre (ASX:CBE) has secured roughly 150,000 tonnes of crushed-leached copper oxide material for its Sierra Atacama operations.
The material was purchased from Empresa Nacional de Minería for approximately US$9 per tonne, including delivery to the site.
"Securing approximately 150,000 tonnes of low-cost ENAMI material, while simultaneously recovering copper from historical ponds and re-leaching historical pads, gives us three potential sources of incremental copper that can utilise infrastructure already in place," said Cobre CEO Adam Wooldridge.
The purchased feed carries an average grade of about 0.65% copper, while parallel on-site leaching trials generated solution containing 2 grammes per litre of copper.
The initiatives are expected to require relatively low acid, offering an advantage in high acid-price conditions.
Following the announcement the Cobre share price was unchanged at $0.25.
The company stated that the complementary strategies target additional copper production during its underground ramp-up and planned open-pit expansion.
The two programmes support Cobre’s broader strategy to establish a regional processing hub in an established mining district with limited electrowinning capacity.
