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Tampakan copper/gold project, Philippines – update

27th May 2022

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name and Location
Tampakan copper/gold project.

Location
Southern Mindanao, the Philippines.

Project Owner/s
Sagittarius Mines Incorporated (SMI).

Project Description
The Tampakan deposit is one of the biggest undeveloped copper/gold deposits in the world.

The project has mineral resources of 2.94 billion tonnes at a grade of 0.51% copper and 0.19 g/t gold, using a cutoff grade of 0.2%, for an estimated 15-million tonnes of copper and 17.6-million ounces of gold.

The project is expected to yield an average of 375 000 t/y of copper and 360 000 oz/y of gold in concentrate over a 17-year life-of-mine.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The initial stage-one capital outlay for the project was estimated at $5.9-billion, including provision for associated infrastructure.

Planned Start/End Date
The project was originally expected to start production by 2016.

Latest Developments
A provincial government in southern Philippines has reversed its 12-year-old policy banning openpit mining, removing the final regulatory hurdle for the stalled Tampakan copper/gold project.

Key Contracts, Suppliers and Consultants
Bechtel (lead engineer for the feasibility study).

Contact Details for Project Information
SMI, tel +63 83 2271043, fax +63 83 2271045 or email info@smi.com.ph.

Edited by Creamer Media Reporter

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