Tschudi Summary

 

Operating Open Pit, Heap Leach, SX/EW Copper Mine

Operations:

  • Mineral Resource: 49.7.1mt @ 0.80 Cu (0.3% cut off) (JORC)
  • Open Pit Ore Reserve: 22.7mt @ 0.85 Cu (0.3% cut off) (JORC)
  • Mine Life: 9 years
  • Processing Rate: 2.6mt/year ore
  • Plant Design Capacity 17,000 tpa copper cathode
  • Mining Strip Ratio 6.3 : 1 (ave. LOM)
  • C1 Cash costs: US$1.75/lb

General Information:

  • The mine is located on a granted mining license (ML125), and has an Environmental Clearance Certificate and all other required permits
  • It is a producing asset with excellent infrastructure – paved roads, port, grid power, reliable water supply, excellent local industrial services, adjacent sulphuric acid supply from Dundee Precious Metals’ Tsumeb smelter
  • It is a state of the art plant built on time and budget by the Weatherly team – a modern site with no legacy issues
  • The SX/EW plant has capacity for 20ktpa of copper cathode – mine and leach scheduling optimisation in progress
  • Competent Namibian management team in place who built, commissioned and ramped up the operation
  • Ramp up and commissioning issues have been addressed, and groundwater inflow issues are under control
  • Operation has declining acid consumption over LOM – forecast 11.4kg/t for remainder of planned leaching is low by industry standards
  • Leach recovery of total copper is 85% for panels completed to date – on target
  • There are resources outside the pit and orebody is open at depth