A partnership with the American unit of an Australian mining company sets the stage for
AMT and GTN Copper will form a joint venture to install and utilize new process technology that should enable them to produce cathode copper at a cash cost of about 30 cents per lb.
The companies plan to the use the Intec hydrometallurgical process, which was developed in Australia by a consortium of mining companies, including Rio Tinto and BHP. It is currently being tested in a full-scale demonstration plant in Sydney.
AMT describes the Intec process as “the most technologically advanced hydrometallurgical process available today.” Using a patented halide leaching technology, the process reportedly achieves higher recoveries of copper, gold and silver than conventional smelting and refining. It produces elemental sulphur, rather than sulphuric acid, and thereby enjoys environmental advantages.
AMT notes that recent tests on ores from Copper Creek show that a 99% recovery can be achieved. The joint-venture agreement calls for AMT and GTN to implement the technology on a staged basis, starting with testwork, engineering and economic valuations. This will be followed by feasibility studies and equal participation in the funding of a plant at Copper Creek.
AMT envisions a plant designed to produce up to 30 million lbs. of refined copper annually, which could be expanded to 75 million lbs. after two years of operation.
GTN Copper holds a preferential licence to use the Intec process and will also provide expertise relating to technical and economic issues.
At last report, Copper Creek hosted proven and probable reserves of 11.4 million tons grading 1.34% copper in several breccia deposits. Additional resources exist in several nearby breccia deposits. The property also hosts lower-grade porphyry copper resources.
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