Avanco on its way to midtier status
PERTH (miningweekly.com) – A prefeasibility study (PFS) has proven that the Pedra Branca East copper/gold project, in Brazil, could realise project owner Avanco Resources’ ambition of becoming a midtier copper producer.
The PFS estimates that the Pedra Branca East project could deliver some 24 000 t/y of copper and 16 000 oz/y of gold in concentrate, based on a 1.2-million-tonne-a-year operation.
The project will require a capital investment of $158-million, and will have a C1 capital cost of around $1.30/lb, with the PFS estimating a net present value of around $200-million and an internal rate of return of 34%.
Over the mine life of eleven-and-a-half years, the project is expected to generate a cash flow of some $368-million.
“Pedra Branca is the company’s second and larger project. The Pedra Branca East PFS has returned positive results, providing the confidence to advance immediately to a definitive feasibility study (DFS),” said Avanco MD Tony Polglase.
“Our vision is clear: to be the next midtier copper company, and the development of Pedra Branca will get us there. I am encouraged by the results and look forward to advancing the project.”
The DFS on Pedra Branca East is expected within the next 12 months.
With 14 000 t/y of production already being delivered from the producing Antas mine, and the Pedra Branca West adding the option for a further 10 000 t/y of copper, Avanco could be on the verge of realising its midtier producer ambitions.
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