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The proposed mine would produce 36,000 tonnes copper annually from an open pit with a solvent extraction-electrowinning plant. The plant would also treat oxide ores from Sossego. CVRD estimates the new mine could start up in the first half of 2008.
The 118 deposit has a reserve of 78 million tonnes grading 0.85% copper, and the pit would have a mine life of 11 years. Sossego, which shipped its first concentrate in early June, is slated to produce 140,000 tonnes per year from a reserve of 250 million tonnes grading 1% copper.
The 118 property is a 50/50 joint venture between CVRD and the Banco do Desenvolvimento, the federal development bank.
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