The asset, discovered in 2006, is expected to produce to 4.6 million ounces of gold over a 15 year mine life. That’s 73,000 ounces more than what was indicated in the previous estimate.
Until now, the Australian miner had been advancing exploration projects in Latin America focused mainly on gold, but with significant exposure to copper, molybdenum and zinc.
The move also expands Kirkland’s ownership of interest in the Urban Barry area of northwestern Quebec, which the company believes to be “highly prospective mining camp" in Canada.
The proposed tax, to be applied on the nominal value of extracted metals, would affect copper miners that produce more than 12,000 tonnes of the metal and those extracting 50,000 tonnes of lithium a year.
