Overview
| Stage | Restarting |
| Mine Type | Underground |
| Commodities |
|
| Mining Method |
|
| Production Start | ...  |
| Mine Life | 6 years (as of Jan 1, 2022) |
Punitaqui project is a past-producing copper mining complex consisting of a centralized process plant that to be fed by four satellite copper deposits, San Andres, Cinabrio, Cinabrio Norte, and Dalmacia.
BMR is focused on securing the final funding for the restart of mining and resumption of copper concentrate production from its Punitaqui copper mining complex in Chile. Battery estimates the remaining funding required for this at approximately US$15M. The Company is in advanced discussions with several parties and has the goal of closing a funding agreement by Q1 2023 that could provide this funding without equity dilution. Once this funding is received, BMR is ready to begin mine rehabilitation and development with plant commissioning to occur soon afterwards. The timeframe to complete mine rehabilitation and mine development is estimated at four to six months. |
Source:
p. 1
On May 28, 2021, Battery Mineral Resources's wholly-owned Chilean subsidiary Minera BMR SpA completed previously announced acquisition from Minera Altos de Punitaqui Limitada (“MAP”), a wholly-owned subsidiary of Xiana Mining Inc. (“Xiana”), of the Punitaqui Mining Complex, a recently producing copper-gold mine located in the Coquimbo region of Chile.
Contractors
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Summary:
In the Punitaqui-Ovalle district mineral deposits are related to hydrothermal activity and are considered broadly as epigenetic Cu± Au-Ag-Hg deposits. There are a number of actively producing copper and/or gold mines as well as numerous and widespread prospects and small workings. These mineral occurrences and mines include manto style copper mineralization, generally hosted in calcareous pyritic sedimentary units, structurally controlled copper (gold) deposits, quartz sulphide gold veins, with or without, copper mineralization and structurally controlled massive magnetite deposits with some copper mineralization.
This mineralization is structurally controlled “feeder” structures within dilational zones and shears. Principle mineral types include pyrite, chalcopyrite and bornite. In many deposits, copper and gold mineralization occur with magnetite and hematite which (Sillitoe, 2003) links these deposits to the iron oxide copper-gold (IOCG) family of deposits.
Cinabrio
The Cinabrio copper deposit is hosted within sequence of early Cretaceous volcanic rocks with sedimentary interbeds. The volcano-sedimentary sequence has been designated the El Reloj formation (Thomas, 1967) and, more recently, the sequence has been included in the Arqueros formation (Emparan and Pineda, 2020).
Regional and district structures control the location of copper mineralization. There are three main systems, north-south, northwest-southeast, and east-west trendi ........
Summary:
The Punitaqui project is a formerly operating mining complex with an operational ~3,000 tonnes per day (t/d) processing plant that processed approximately 8.4 million tonnes (Mt) of ore for sale as copper concentrate. Feed to the mill came primarily from the underground Cinabrio mine, complemented with feed from the Los Mantos and Nova Galacia mines, which were leased at that time. The lease is no longer valid.
BMR is currently pursuing a potential near-term resumption of operations of the Punitaqui Mining Complex. The Punitaqui resource is separated into four underground resource zones: Chinabrio, San Andrés, Dalmatia and Chinabrio Norte.
September 7, 2022 - has received public approval by the Chilean Environment Assessment Service for the Environmental Impact Declaration which grants the permission to mine at a rate of up to 100,0000 tonnes per month (~ 3,333 tonnes per day) at the Cinabrio/San Andres area at its Punitaqui copper mining complex.
Four Underground Resource Estimates Totalling 6.17 Mt Indicated. At our proposed mine rate of 3,200 tpd, the indicated resources could provide ~ six years of mining.
The individual resource estimates include Cinabrio, San Andres, Dalmacia and Cinabrio Norte. This estimate is based upon the reasonable prospect of eventual economic extraction based on continuity and confidence, using reasonable, established mining solids along with reasonable estimates of operating costs and price assumpt ........
Source:
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Flow Sheet:
Summary:
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Reserves at August 16, 2022:
Underground Mineral Resource Estimates are reported at a base case above a 0.7% Cu cut-of.
Underground and Open Pit: Cut-off grades are based on a price of US$3.50/lb copper, US$20/oz silver and several operating costs, metallurgical recoveries, and recovery assumptions, including a reasonable contingency factor.
| Category | OreType | Tonnage | Commodity | Grade |
|
Indicated
|
In-Situ (OP)
|
873,000 t
|
Copper
|
0.74 %
|
|
Indicated
|
In-Situ (UG)
|
6,172,000 t
|
Copper
|
1.14 %
|
|
Indicated
|
In-Situ (OP)
|
873,000 t
|
Silver
|
1.15 g/t
|
|
Indicated
|
In-Situ (UG)
|
6,172,000 t
|
Silver
|
2.48 g/t
|
|
Inferred
|
In-Situ (OP)
|
1,326,000 t
|
Copper
|
0.5 %
|
|
Inferred
|
In-Situ (UG)
|
3,070,000 t
|
Copper
|
0.93 %
|
|
Inferred
|
In-Situ (OP)
|
1,326,000 t
|
Silver
|
1.11 g/t
|
|
Inferred
|
In-Situ (UG)
|
3,070,000 t
|
Silver
|
2.64 g/t
|
Commodity Production Costs:
| | Commodity | Units | 2019 | 2018 |
|
Cash costs
|
Copper
|
USD
|
...... †
|
4.56 / lb†
|
† Net of By-Product.
Operating Costs:
| | Units | 2020 | 2019 | 2018 |
|
Total operating costs ($/t milled)
|
USD
| 66.9 | 49.3 | 53.6 |
Financials:
| | Units | 2019 |
|
Revenue
|
M USD
| ...... |
|
After-tax Income
|
M USD
| ...... |
|
EBIT
|
M USD
| ...... |
|
EBITDA
|
M USD
| ...... |
Corporate Filings & Presentations:
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