Definition drilling at the Collahuasi copper project in northern Chile has enabled Falconbridge (TSE) and equal partner Minorco to boost geological resources.
The figure now stands at a staggering 3.1 billion tonnes averaging 0.82% copper, with a cutoff grade of 0.4% copper.
The previous estimate for geological reserves within Ujina and Rosario deposits was 2 billion tonnes averaging 0.9% copper.
A recently completed feasibility study proposes a mine life of 25 years, during which time copper would be produced in both concentrate and cathode forms.
For each of the first six years, Collahuasi will produce 330,000 tonnes of copper-in-concentrates from 145 million tonnes of secondary enriched resources averaging 1.79% copper.
In addition, 50,000 tonnes of copper cathode will be won from 53 million tonnes of acid-leachable resources averaging 1.31% copper.
The partners hope to have permitting and financing in place by year-end. Construction is expected to start in 1996, with startup targeted for late 1998.
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