Mining Intelligence and News
United States

Phoenix Mine

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Summary

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
  • Copper
  • Silver
Mining Method
  • Truck & Shovel / Loader
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Mine Life... Lock
SnapshotPhoenix is tri-metal operation. The Phoenix mine features a flotation mill, a carbon-in-leach plant, a copper leach pad, and a solvent extraction-electrowinning plant.

On July 1, 2019, Phoenix mine was contributed to Nevada Gold Mines, a joint venture between Barrick and Newmont.

Highlights as of November 2024:
- New sulfide concentrate filtering facility construction and commissioning on track for year end;
- In collaboration with regional team, utilized parked-up equipment to improve costs and increase operational flexibility;
- Truck reinvestment strategy kicked off in 2024 and expected through to 2026, ensuring LOM delivery;
- Opportunities are being explored to expand copper production including porphyry potential around Copper Canyon stock (open at depth) and high-grade Au+Cu around Copper Basin.

Owners

SourceSource
CompanyInterestOwnership
Newmont Corp. 38.5 % Indirect
Barrick Gold Corp. (operator) 61.5 % Indirect
Nevada Gold Mines includes Carlin, Cortez, Turquoise Ridge, Phoenix and Long Canyon. Barrick is the operator of the joint venture and owns 61.5%, with Newmont Corporation owning the remaining 38.5%.

Contractors

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Deposit type

  • Skarn
  • Replacement
  • Carbonate hosted

Summary:

Phoenix is a skarn-hosted polymetallic massive sulfide replacement deposit.

Phoenix Complex deposits include Fortitude and Bonanza and Greater Phoenix. Combined deposit lengths are 16,000 ft long, deposit width is 3,900 ft, and the deposits have a thickness range from 200-550 ft.

Two major regional scale north–south-striking faults demark the Phoenix mineralization corridor. The west boundary is the Copper Canyon fault zone (also known as the Canyon fault) and to the east, is the Virgin fault zone. Numerous subsidiary faults are developed in the vicinity of these main faults.

Hydrothermal alteration in the Project is centered on the Copper Canyon stock, which has produced about 4,200 acres of hornfels and skarn. Skarn alteration is hosted by all sedimentary rock units adjacent to the Copper Canyon granodiorite, with the reactive calcareous protoliths of the Edna Mountain Formation, Antler Peak Limestone and Battle Formation hosting the bulk of the skarn alteration. Alteration of the Copper Canyon stock consists of quartz–sericite–pyrite argillic, or propylitic, alteration.

Preferred host lithologies for gold mineralization are the Antler Peak Limestone and Battle Formation. Copper mineralization hosts include the Copper Canyon stock and Havallah sequence.

Gold mineralization occurs freely at gangue–gangue or at sulfide–gangue grain boundaries, and only rarely as inclusions within gangue minerals. Some inclusions were noted in quartz, pyroxene, epidote, and orthoclase. The remaining gold occurred as inclusions totally encapsulated by sulfide minerals including pyrite, pyrrhotite, and to a lesser extent arsenopyrite, chalcopyrite, and sphalerite. Silver minerals are dominantly electrum, hessite, and lesser argentite.

Copper oxide mineralization locally contains minor amounts chalcanthite, malachite, chrysocolla, azurite, and lesser cuprite. Enriched copper mineralization typically has chalcopyrite ± covellite present. Covellite locally rims chalcocite grains where the effects of oxidation are more advanced. In hypogene mineralization, chalcopyrite occurs as disseminations and bedded replacements with skarn and silicate minerals, and in conjunction with pyrite.

Reserves

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Mining Methods

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Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityProductUnits20252024202320222021202020192018201720162015
Gold Metal in conc./ doré koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe94 241 239 209 205 
Copper Metal M lbs  ....  Subscribe  ....  Subscribe  ....  Subscribe32334246
^ Guidance / Forecast.

Operational metrics

Metrics2024202320222021202020192018201720162015
Daily processing capacity  ....  Subscribe  ....  Subscribe
Stripping ratio  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe1.88
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe7,985 kt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe15,005 kt
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe22,990 kt
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe8,445 kt12.2 M tons11.7 M tons12 M tons11 M tons
Annual processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Production Costs

CommodityUnits202520242023202220212020201920182017
Total cash costs (sold) Gold USD  ....  Subscribe
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,600 / oz  
Total cash costs (sold) Copper USD 1.83 / lb   1.73 / lb  
Total cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe 854 / oz **   854 / oz **  
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 947 / oz **  
All-in sustaining costs (sold) Gold USD  ....  Subscribe
All-in sustaining costs (AISC) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,935 / oz  
All-in sustaining costs (sold) Copper USD 2.24 / lb   2.09 / lb  
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe 1,043 / oz **   1,034 / oz **  
All-in sustaining costs (AISC) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,282 / oz **  
All-in costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,935 / oz  
All-in costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,282 / oz **  
^ Guidance / Forecast.
** Net of By-Product.

Operating Costs

Currency202420232022202120202019
OP mining costs ($/t mined) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Mine Financials

Units2024202320222021202020182017
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 32   25  
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 31   24  
Pre-tax Income M USD 32   31  

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2025
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2025
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2025
....................... Subscription required ....................... Subscription required Subscription required Apr 29, 2025

Workforce

Total WorkforceYear
...... Subscription required 2024
...... Subscription required 2023
...... Subscription required 2022
...... Subscription required 2021
...... Subscription required 2020
...... Subscription required 2019
...... Subscription required 2018

Aerial view:

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