A feasibility study for Baja Mining (BAJ-T) on the Boleo copper-zinc deposit in Baja California Sur, Mexico, shows an internal rate of return of 24.7% and proposes mining the deposit at a rate of 3 million tonnes annually from open pits and underground.
The study estimated open pit reserves at 17.6 million tonnes at grades of 0.73% copper, 0.09% cobalt, 0.41% zinc and 2.86% manganese. The underground reserve is 67.4 million tonnes, with 1.49% copper, 0.07% cobalt, 0.59% zinc and 2.92% manganese.
The operation would have a life of 25 years at the proposed mining rate, with underground operations using a room-and-pillar method with continuous mining machines. The plant is a hydrometallurgical one, producing copper and cobalt as cathode metal, plus zinc as a hydrous sulphate compound.
Capital costs for the mine and mill have been estimated at US$407 million.
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