Hudbay Minerals granted final permit for $1.9B Rosemont copper mine
The operation is expected to be the third-largest copper mine in the U.S., employing about 500 people and accounting for approximately 10% of the country’s total copper production.
The operation is expected to be the third-largest copper mine in the U.S., employing about 500 people and accounting for approximately 10% of the country’s total copper production.
The Montana, U.S.-based Sunlight mine has been approaching the end of its operational life in recent years and its remaining gold reserves are nearly depleted.
Decision doesn't determine the final faith of the long-delayed and polemic project, as the case has been sent back to the Environmental Court for review by a different panel of judges, a process that could last several months.
Project included the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.
The mine is the company’s biggest in the South American country.
Mining stopped on March 8, when members of the Asociación Obrera Minera Argentina (AOMA) downed tools, and processing activities have now also ceased following the exhaustion of surface stockpiles.
The deal will allow the Canadian miners to consolidate their Karankasso and Mana properties.
Under the deal, Barrick will take a 61.5% stake in the joint venture consisting of the duo’s Nevada mines, with Newmont holding the remainder.
The asset's reserves as at December 31, 2018 increased 4% to 1.9 million tonnes grading 11 grams per tonne of gold for 688,000 ounces, while measured and indicated resources increased 7% to 3.5Mt from a year earlier.
The Agua Rica mineral reserve is estimated to contain 4.5 million tonnes of copper and 6.5 million ounces of gold contained in approximately 910 million tonnes of ore.