The Alacran copper-gold project after feasibility study

Cordoba Minerals Corp. has informed the general public that The Alacran copper-gold project in Colombia has completed a feasibility study. The construction of the open-pit mine is expected to take about two years with a cost of $420.4 million.

New open-pit mine

The expected life of the mine is projected to be 14.2 years plus two more years of construction and pre-production mining of mined ore with stockpiled historical tailings. The after-tax net value is calculated at $359 million and an internal rate of return of 23.8% with a payback period of three years.

The average mining rate is expected to be 39.5 million tons of ore per year. This gives a total of 797.2 million lb. of copper, with an additional 550 000 oz. of gold and 5.35 million oz. of silver.

Environmental Impact Assessment

The FS has been used as the basis for an Environmental Impact Assessment. This is an essential step which is required by the Colombian authorities. The company has informed that on 11.12.2023, it has submitted the application.
Sarah Armstrong-Montoya has stated: „The filing of the EIA in conjunction with the completion of the Feasibility Study for Alacran officially commences the next chapter for Cordoba as we transition from a pure exploration company to a development enterprise, which is a landmark milestone achieved through the unequivocal dedication by the Cordoba team and unwavering support from our shareholders and stakeholders”.

Design work phase

Mine engineering and design work over the Alacran copper gold mining project should begin in early 2024. It is expected that the end of work at this stage should be in Q2 2024. Cordoba Minerals alongside its partner JCHX Kinsey Mining Construction has scheduled an in-person workshop for January 2024. The workshop is targeted to initiate the engineering phase of the project. Sarah Armstrong-Montoya has added: „Given our partner JCHX’s deep experience in mine construction, development, and contract mining, we are very confident that the company will be able to swiftly compose the most optimal plan and assemble the best possible team to promptly bring the Alacran Project online”.