Overview
| Stage | Pre-Feasibility |
| Mine Type | Open Pit |
| Commodities |
- Copper
- Molybdenum
- Gold
- Silver
|
| Mining Method |
|
| Mine Life | 27 years (as of Jan 1, 2020) |
Agua Rica Project is integrated with Alumbrera Mine and Alumbrera plant and infrastructure (MARA Project).
In late 2019 and early 2020 the MARA Joint Venture Technical Committee advanced optimization studies, the result of which were compiled as pre-feasibility study (B).
The Pan American added MARA Project to its portfolio and plans to provide a operating outlook in the mid-second quarter of 2023. |
Source:
p. 1
| Company | Interest | Ownership | Investor's Info |
|
Glencore plc.
|
100 %
|
Indirect
|
|
The sale of these non-core assets is aligned with Pan American's stated aim of optimizing its portfolio following the acquisition of Yamana Gold Inc.
Under the terms of the agreement for the MARA sale, Glencore International AG ("Glencore") paid US$475 million, in cash and granted to Pan American a life-of-mine copper net smelter return royalty of 0.75%, with the right for Pan American to freely transfer the royalty. Glencore has assumed 100% ownership of the MARA project following completion of the transaction on September 20, 2023.
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Epithermal
- Porphyry
- Vein / narrow vein
Summary:
Agua Rica Project is integrated with Alumbrera Mine (MARA Project).
Agua Rica
The Agua Rica deposit is interpreted as a substantial gold-rich porphyry copper-molybdenite deposit, formed by multistage porphyry intrusions of Miocene age.
Mineralization
Three major stages of alteration and polymetallic mineralization have been recognised at Agua Rica: early porphyry copper-molybdenum- gold (Cu-Mo-Au) associated with the emplacement of porphyritic intrusions, later overprinted by epithermal copper-gold-silver-arsenic-lead-zinc (Cu-Au-Ag-As-Pb-Zn) related to complex multi-stage hydrothermal brecciation; and supergene copper (Cu) enrichment. These are described in the subsections below.
Porphyry Stage
In a first pulse of Miocene magmatism, the emplacement of the Melcho intrusions in the southern portion of the Project area was accompanied by minor potassic and propylitic alteration and weak pyrite ± chalcopyrite ± molybdenite mineralization.
The subsequent intrusion of the Seca and Trampeadero feldspar porphyries resulted in the development of intense quartz stockwork veining, potassic alteration, and chalcopyrite-molybdenite mineralization with rare bornite and pyrrhotite. Remnants of this potassic alteration can be observed in patches in those two porphyries. Chalcopyrite and bornite are especially important at Seca Norte, however, are difficult to observe macroscopically. Rare magnetite-chalcopyrite veins in which magnetite has been partially altered to hematite are present ........
Summary:
Minera Agua Rica Alumbrera ("MARA") project is the combined project comprising the Agua Rica site, Alumbrera site as well as the Alumbrera plant and ancillary buildings and facilities.
The open pit mining at Alumbrera was completed in Q3 2018.
In 2020, was completed the formal integration of Agua Rica with Minera Alumbrera including its existing plant and infrastructure.
Agua Rica Mineral Reserves are contained within a single open pit. The pit is located in a valley, Quebrada Minas, flanked by mountainous terrain ranging in elevation between approximately 3,000 masl to 4,000 masl.
The Agua Rica deposit will be mined via a conventional high tonnage, truck and shovel open pit operation with ore being crushed at the new mine site and conveyed approximately 35 km west to the existing Alumbrera processing plant. The average LOM material moved is expected to be approximately 108 Mtpa, with an ore feed of 40 Mtpa and average LOM strip ratio of 1.66. Mine waste will be deposited in the Choya valley, adjacent to the Agua Rica, at WRF.
The mining strategy includes the use of a mining contractor to develop the first two stages with the objective of minimizing the Project’s initial capital cost, while the production stage will be carried out primarily by the Parties.
Due to the mountainous topography, the Agua Rica mine will require mine pioneering activities such as roads, dykes, and crushing pad to properly enable the mine commencing.
Prestripping of 83.8 Mt of overburden will ........
Source:
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Flow Sheet:
Summary:
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Projected Production:
| Commodity | Units | Avg. Annual |
|
Copper Equivalent
|
M lbs
| 469 |
All production numbers are expressed as metal in concentrate.
Operational Metrics:
| Metrics | |
|
Daily processing capacity
| 115,000 t * |
|
Annual mining rate
| 108 Mt * |
|
Annual ore mining rate
| 42 Mt * |
|
Stripping / waste ratio
| 1.66 * |
* According to 2020 study.
Reserves at December 31, 2020:
The Mineral Reserves and Resources didn't change from 2020 to 2022.
The Agua Rica Open pit mineral reserves are reported at a variable cut-off value averaging $8.42/t t, based on metal price assumptions of $3.00/lb Cu, $1,250/oz Au, $18/oz Ag, and $11/lb Mo.
The Agua Rica Open pit Mineral Resources are reported at a variable cut-off value which averages $8.42/t (metal price assumptions of $4.00/lb Cu, $1,600/oz Au, $24/oz Ag, and $11/lb Mo). Alumbrera deposit: Whittle pit shell cut-off at 0.22% copper equivalent; Bajo El Durazno deposit: 0.2 g/t Au cut-off within pit shell.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Proven
|
587,200 kt
|
Copper
|
0.57 %
|
7,379 M lbs
|
|
Proven
|
587,200 kt
|
Molybdenum
|
0.03 %
|
388 M lbs
|
|
Proven
|
587,200 kt
|
Gold
|
0.25 g/t
|
4,720 koz
|
|
Proven
|
587,200 kt
|
Silver
|
3 g/t
|
57,013 koz
|
|
Probable
|
517,600 kt
|
Copper
|
0.39 %
|
4,450 M lbs
|
|
Probable
|
517,600 kt
|
Molybdenum
|
0.03 %
|
341 M lbs
|
|
Probable
|
517,600 kt
|
Gold
|
0.16 g/t
|
2,663 koz
|
|
Probable
|
517,600 kt
|
Silver
|
2.6 g/t
|
43,765 koz
|
|
Proven & Probable
|
1,104,800 kt
|
Copper
|
0.49 %
|
11,829 M lbs
|
|
Proven & Probable
|
1,104,800 kt
|
Molybdenum
|
0.03 %
|
731 M lbs
|
|
Proven & Probable
|
1,104,800 kt
|
Gold
|
0.21 g/t
|
7,381 koz
|
|
Proven & Probable
|
1,104,800 kt
|
Silver
|
2.8 g/t
|
100,780 koz
|
|
Measured
|
169,684 kt
|
Copper
|
0.28 %
|
1,051 M lbs
|
|
Measured
|
169,684 kt
|
Molybdenum
|
0.014 %
|
53 M lbs
|
|
Measured
|
169,684 kt
|
Gold
|
0.26 g/t
|
1,397 koz
|
|
Measured
|
53,600 kt
|
Silver
|
1.6 g/t
|
2,670 koz
|
|
Indicated
|
215,463 kt
|
Copper
|
0.3 %
|
1,406 M lbs
|
|
Indicated
|
215,463 kt
|
Molybdenum
|
0.029 %
|
139 M lbs
|
|
Indicated
|
215,463 kt
|
Gold
|
0.12 g/t
|
816 koz
|
|
Indicated
|
206,300 kt
|
Silver
|
1.9 g/t
|
12,337 koz
|
|
Measured & Indicated
|
385,146 kt
|
Copper
|
0.29 %
|
2,459 M lbs
|
|
Measured & Indicated
|
385,146 kt
|
Molybdenum
|
0.022 %
|
190 M lbs
|
|
Measured & Indicated
|
385,146 kt
|
Gold
|
0.18 g/t
|
2,213 koz
|
|
Measured & Indicated
|
259,900 kt
|
Silver
|
1.8 g/t
|
15,008 koz
|
|
Inferred
|
745,938 kt
|
Copper
|
16 %
|
3,778 M lbs
|
|
Inferred
|
745,938 kt
|
Molybdenum
|
0.03 %
|
492 M lbs
|
|
Inferred
|
745,938 kt
|
Gold
|
0.09 g/t
|
2,172 koz
|
|
Inferred
|
742,900 kt
|
Silver
|
1.6 g/t
|
38,693 koz
|
Commodity Production Costs:
| | Commodity | Units | Average |
|
Total cash costs
|
Copper Equivalent
|
USD
|
......
|
|
All-in sustaining costs (AISC)
|
Copper Equivalent
|
USD
|
......
|
|
Assumed price
|
Molybdenum
|
USD
|
......
|
|
Assumed price
|
Copper
|
USD
|
......
|
|
Assumed price
|
Silver
|
USD
|
......
|
|
Assumed price
|
Gold
|
USD
|
......
|
* According to 2020 study / presentation.
2020 Study Costs and Valuation Metrics :
| Metrics | Units | LOM Total |
|
Initial CapEx
|
$M USD
|
......
|
|
After-tax NPV @ 8%
|
$M USD
|
......
|
|
After-tax IRR, %
|
|
......
|
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Pipelines and Water Supply
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Corporate Filings & Presentations:
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