Mining Intelligence and News
Peru

Cotabambas Project

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Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Copper
  • Gold
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Cotabambas Copper-Gold-Silver Project is the flagship asset of Panoro Minerals Ltd.

The Company is advancing with studies to update the Preliminary Economic Assessment (PEA) incorporating the 2024 Updated Mineral Resource Estimate. A new mining plan has been developed and will be incorporated into the updated PEA. Key improvements such as reduced initial capital costs, enhanced recovery rates, and higher commodity prices compared to the existing PEA are expected to substantially strengthen the project's economic viability.

Following the PEA update, the Company plans to proceed with a feasibility study and permitting. Additionally, the project holds significant exploration potential, with limited drilling conducted at the Guaclle and Chaupec targets and several other identified targets yet to be drilled.

Owners

SourceSource
CompanyInterestOwnership
Panoro Minerals Ltd. 100 % Indirect
The mineral rights to the Cotabambas Property are 100% held by Panoro Apurimac S.A., a wholly owned subsidiary of Panoro Minerals Ltd.

Deposit type

  • Porphyry
  • Vein / narrow vein

Summary:

The North Pit and South Pit zones, previously known as Ccalla and Azulccacca, respectively, comprise the Cotabambas deposit and are considered to be examples of porphyry copper gold deposits. The two host porphyries cover an area of about 2.5 km long and 1.8 km wide.

The deposit is hosted in the Andahuaylas–Yauri belt, which is dominated by the Andahuaylas–Yauri batholith which is exposed for approximately 300 km between the towns of Yauri in the southeast and Andahuaylas in the northwest, and Mesozoic to Early Cenozoic clastic and marine sediment sequences.

Mineralization occurs in hypogene, supergene enrichment and oxide zones within the host porphyries and surrounding diorites. A well-developed leached cap hosts the oxide mineralization. Sulphide mineralization occurs below the base of the leached cap.

Hypogene mineralization in the Project area has been intersected at depths from approximately 20 m from surface to depths of over 500 m from surface. Mineralization occurs as disseminated chalcopyrite and pyrite, pyrite-chalcopyrite stringers or veinlets and quartz–chalcopyrite–pyrite veinlets. Chalcopyrite mineralization intensity decreases and disseminated pyrite mineralization increases distal to the higher-grade parts of the hypogene zone. Sulphide mineralization consists of chalcopyrite and pyrite and gold grades are strongly correlated to copper grades in the hypogene zone. Some occurrences of bornite have been noted in deeper portions of the hypogene zones. Silver grades are not as strongly correlated to copper grades as they are to gold grades but are generally elevated where copper–gold mineralization is present.

Zones of high-grade chalcocite mineralization with lesser covellite and chalcopyrite occur at the top of the hypogene sulphide mineralization, and at the base of the leached cap. This type of mineralization is interpreted to be a zone of supergene enrichment. Supergene zones occur at North Pit and South Pit are characterized by high chalcocite content, correspondingly high cyanide-soluble copper assay grades and total copper grades that are generally >1%.

Oxide mineralization occurs in the leached cap of the North Pit and South Pit zones. Iron oxides and oxy-hydroxides replace pyrite, and oxide copper–gold mineralization occurs as patches of green copper oxides, typically chrysoscolla, malachite and broncanthite. Copper oxides occur as coatings on disseminated chalcopyrite grains and as fill in fractures and veinlets. Oxide gold mineralization has been defined in a lens in the South Pit area, but has also been intersected in short, isolated 1 m to 5 m intervals in other parts of the leached cap of the deposit.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 2,638
Gold Payable metal M oz 1.6
Silver Payable metal M oz 17
Copper Concentrate kt 270

Operational metrics

Metrics
Daily ore mining rate 80,000 t *
Daily processing capacity 80,000 t *
Annual ore mining rate 29.3 Mt *
Annual mining rate 116 Mt *
Plant annual capacity 29.2 Mt *
Stripping / waste ratio 1.25 *
Waste tonnes, LOM 604.19 Mt *
Ore tonnes mined, LOM 483.08 Mt *
Total tonnes mined, LOM 1,161 Mt *
Tonnes processed, LOM 483.07 Mt *
* According to 2015 study.

Production Costs

CommodityUnitsAverage
Credits (by-product) Copper USD -0.94 / lb *  USD
C1 cash costs Copper USD 2.16 / lb *  USD
C1 cash costs Copper USD 1.22 / lb * **  USD
C2 total cash costs Copper USD 1.94 / lb * **  USD
Assumed price Molybdenum USD 12.5 / lb *  USD
Assumed price Copper USD 3.2 / lb *  USD
Assumed price Silver USD 23 / oz *  USD
Assumed price Gold USD 1,350 / oz *  USD
* According to 2015 study / presentation.
** Net of By-Product.

Operating Costs

Currency2024
OP mining costs ($/t mined) USD  ....  Subscribe
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
* According to 2015 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 2,116
G&A costs $M USD 196.7
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Net Income (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 7.5% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 7.5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 22, 2015
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Nov 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024

Total WorkforceYear
...... Subscription required 2015

Aerial view:

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