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Australia
Capricorn Mine

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 Location:
115 km N from Mount Isa, Queensland, Australia
  Address:
Level 3, 232 Adelaide Street
Brisbane
Queensland, Australia
4000
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News
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Overview

StatusTemporary Suspension
Mine TypeUnderground
Commodities
  • Copper
  • Silver
  • Cobalt
Mining Method
  • Sub-level caving
  • Longhole open stoping
  • Paste backfill
  • Dry waste backfill
Production Start...
Mine Life10 years (as of Jan 1, 2021)
Commercial production - Restart in 2018. Initial production commenced from 1969.

Operations suspended during extreme rainfall event over the period 6-10 March 20231. Ongoing suspension of operations post rainfall event predominantly due to:
-Water ingress into Esperanza South mine (approx. 500ML)
-Flood damage to existing water treatment facilities, workshop and warehouse
-Elevated water levels within on-site water storage structures.

The safe return to operations will likely involve a phased approach. It is expected that the recovery will comprise:
* Phase 1 (mid Sep-Qtr 2023) - initial reinstatement of operations, with combination of ore mined from the Mammoth and Greenstone ore sources, and stockpiles; and
* Phase 2 (mid-H1 2024) - complete reinstatement, with recommencement of mining in Esperanza South mine and ramping up milling rates.
Latest NewsOperations Update –Capricorn Copper     April 20, 2023

Owners

Source: p. 9, 67, 158
CompanyInterestOwnership
29Metals Limited 100 % Indirect
On 7 June 2021, 29Metals completed the acquisition of the Capricorn Copper Group. The Capricorn mine is owned by Capricorn Copper Pty Ltd, a wholly owned subsidiary of 29Metals Limited.

The Capricorn Copper mine was previously owned by private equity funds managed by EMR Capital. Following the IPO (completed 2 July 2021), the EMR Capital Investors have retained a significant minority interest (approximately 45%) in 29Metals.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Breccia pipe / Stockwork
  • Sediment-hosted

Summary:

Capricorn Copper consists of several structurally controlled, sediment-hosted copper deposits located within the Western Fold Belt of the Mt Isa Inlier.

The structures are Middle Proterozoic in age, and the region hosts significant known deposits, including Mount Isa (Cu, Pb, Zn, Ag), Century (Zn, Pb, Ag), Cannington (Ag, Pb, Zn), and Osborne & Ernest Henry (Cu, Au).

There are two dominant styles of mineralisation at Capricorn Copper:
- breccia-hosted within quartzites – Mammoth and Greenstone deposits; and
- shear-hosted within shales/siltstones – Esperanza, Esperanza South and Pluto deposits.

Mammoth
Mineralisation occurs in multiple lenses as 10–30m wide breccia zones developed at the point of intersection between major structures.

Mineralisation consists of breccia-fill bornite, chalcopyrite, chalcocite, pyrite, and locally arsenopyrite, with a gangue of chlorite-haematite. Chalcocite is present closer to surface with chalcopyrite and bornite dominant at depth.

Greenstone
Mineralisation occurs in multiple lenses and comprises veinlets and breccia-fill bornite, chalcopyrite, chalcocite and pyrite, with a gangue of chlorite-haematite.

Chalcocite is present closer to surface with chalcopyrite and bornite dominant at depth.

Esperanza, Esperanza South and Pluto
Mineralisation occurs as shear-hosted mineralisation in shale/siltstone, with chalcocite veins and bornite within th ........

Mining Methods

  • Sub-level caving
  • Longhole open stoping
  • Paste backfill
  • Dry waste backfill

Summary:

Of the five known deposits at Capricorn Copper with three currently in production:

- Esperanza South (‘ESS’), Mammoth and Greenstone. The other two deposits – Esperanza and Pluto – are currently planned to come into production from 2026.

Access to ESS and Mammoth is via two separate declines. Access to Greenstone is via an access drive from the Mammoth decline.

At Mammoth, the historical decline has been rehabilitated and extended to provide access to mining areas known as Mammoth Remnants and Mammoth Deeps, and a further access drive from the Mammoth decline is planned to access Esperanza and Pluto for mining in the future.

At ESS, Capricorn Copper has developed new mine infrastructure comprising the decline, ventilation rises, power supply network and groundwater pumping.

At Greenstone, a separate return air rise and emergency egress rise have been developed.

Mining in ESS applies sub-level caving. Mining at Mammoth and Greenstone applies long-hole open stoping with waste-rock or paste fill.

In the future, mining of Esperanza and Pluto will employ LHOS mining methods.

Ore is transported by truck to surface via the ESS and Mammoth declines (as applicable).

At Greenstone and Mammoth waste rock is partially used as backfill with surplus waste rock trucked to surface and deposited in the waste rock dump.

The Capricorn Copper operations team is responsible for operationa ........

Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.

Production:

CommodityProductUnits20222021202020192018
Copper Metal in concentrate M lbs  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required40
Silver Metal in concentrate koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Copper Equivalent Metal in concentrate kt  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Copper Concentrate kt  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics20222021202020192018
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required1,583 kt1,301 kt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required1,605 kt1,326 kt
Annual processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
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Reserves at December 1, 2021:

CategoryTonnage CommodityGradeContained Metal
Proven 1 Mt Copper 1.7 % 20 kt
Proven 1 Mt Silver 7 g/t 200 koz
Probable 12 Mt Copper 1.8 % 210 kt
Probable 12 Mt Silver 10 g/t 3,800 koz
Proven & Probable 13 Mt Copper 1.8 % 220 kt
Proven & Probable 13 Mt Silver 10 g/t 4,100 koz
Measured 5.5 Mt Copper 1.8 % 97 kt
Measured 5.5 Mt Silver 6 g/t 1,061 koz
Measured 5.5 Mt Cobalt 161 ppm 1 kt
Indicated 32.7 Mt Copper 1.9 % 624 kt
Indicated 32.7 Mt Silver 8 g/t 7,970 koz
Indicated 32.7 Mt Cobalt 383 ppm 13 kt
Inferred 22.6 Mt Copper 1.6 % 360 kt
Inferred 22.6 Mt Silver 7 g/t 5,334 koz
Inferred 22.6 Mt Cobalt 327 ppm 7 kt
Total Resource 60.8 Mt Copper 1.8 % 1,081 kt
Total Resource 60.8 Mt Silver 7 g/t 14,365 koz
Total Resource 60.8 Mt Cobalt 342 ppm 21 kt

Commodity Production Costs:

CommodityUnits2021202020192018
All-in sustaining costs (sold) Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 4.16 / lb†  
C1 cash costs Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 3.18 / lb†  
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units20222021202020192018
Capital expenditures (planned) M AUD  ......  Subscription required
Sustaining costs M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 10  
Capital expenditures M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 38  
Revenue M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required
EBITDA M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required -6  
Subscription required - Subscription is required

Heavy Mobile Equipment as of September 4, 2022:
HME TypeModelQuantityLeased or
Contractor
Drill ....................... Subscription required ....................... Subscription required Leased
Drill (long hole) ....................... Subscription required ....................... Subscription required Leased
Loader ....................... Subscription required ....................... Subscription required Leased
Loader ....................... Subscription required ....................... Subscription required Leased
Truck (underground) ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required Subscription required Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Other 2018
Corporate Presentation 2017
Press Release 2017
Other 2016
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News:

NewsDate
Operations Update –Capricorn Copper April 20, 2023

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