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TECHNICAL REVIEW OF OPERATIONS AT MINERA VALLE CENTRAL
RANCAGUA REGION VI, CHILE
FOR
AMERIGO RESOURCES LTD.
March 11, 2006
ROGER MOSS, Ph.D., P.Geo.
and
RAÚL POBLETE DE LA CERDA, General Manager, Minera Valle Central S.A.
March 2006
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TABLE OF CONTENTS
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1.0 SUMMARY......................................................................................................................................4
2.0 INTRODUCTION AND TERMS OF REFERENCE.........................................................................6
2.1 Introduction ........................................................................................................................6 2.2 Terms of Reference ...........................................................................................................6 2.3 Sources ..............................................................................................................................7 2.4 Field Involvement of Qualified Person ...............................................................................7
3.0 RELIANCE ON OTHER EXPERTS ................................................................................................8
4.0 PROJECT DESCRIPTION AND HISTORY....................................................................................9
4.1 Property Description and Location.....................................................................................9 4.2 Access..............................................................................................................................11 4.3 Climate .............................................................................................................................11 4.4 Local Resources and Infrastructure .................................................................................12 4.5 Physiography ...................................................................................................................12 4.6 History ..............................................................................................................................14 4.7 Adjacent Properties..........................................................................................................15
5.0 GEOLOGY AND MINERALIZATION ............................................................................................16
5.1 Source of Tailings ............................................................................................................16 5.2 Characteristics of Tailings................................................................................................16
6.0 SAMPLING METHOD AND APPROACH.....................................................................................18
7.0 SAMPLE PREPARATION, ANALYSIS AND SECURITY.............................................................19
8.0 DATA VERIFICATION ..................................................................................................................20
9.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES ...............................................21
9.1 Methodology.....................................................................................................................21 9.2 Historical Records............................................................................................................22 9.3 Colihues Production Records and Additional Sampling ..................................................24 9.4 Verification .......................................................................................................................30 9.5 Bathymetric Study............................................................................................................33 9.6 Density Measurement ......................................................................................................339.7 Tonnage Estimate for the Colihues Tailings Dam ...........................................................33 9.8 Classification of Resource ...............................................................................................33
10.0 PLANT FEED SUPPLY.................................................................................................................35
10.1 El Teniente Tailings..........................................................................................................35 10.2 Colihues Tailings..............................................................................................................39
11.0 MINERAL PROCESSING .............................................................................................................41
11.1 Current Process Description ............................................................................................41 11.2 Plant Design and Condition .............................................................................................42 11.3 Current and Historical Plant Performance .......................................................................42
12.0 MARKET AND CONTRACTS .......................................................................................................45
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12.1 Tailings Supply Contract ..................................................................................................4512.2 Concentrate Smelting and Refining Contract ..................................................................46
13.0 ENVIRONMENTAL AND PERMITS .............................................................................................47
13.1 Description of Environmental Management in MVC........................................................47 13.2 Identification of Environmental Issues .............................................................................47 13.3 Legal and Other Requirements........................................................................................49
14.0 TAXES...........................................................................................................................................51
15.0 OPERATING COSTS....................................................................................................................52
15.1 Current Operating Costs ..................................................................................................5215.2 Operating Costs for Potential Improvement Projects.......................................................54
16.0 CAPITAL COST ............................................................................................................................55
16.1 Current Position ...............................................................................................................55
17.0 CONCLUSIONS AND RECOMMENDATIONS ............................................................................56
18.0 REFERENCES..............................................................................................................................57
LIST OF FIGURES
LIST OF TABLES
APPENDIX A – CERTIFICATES OF AUTHOR AND QUALIFIED PERSON
APPENDIX B – MINERA VALLE CENTRAL MONTHLY PRODUCTION FROM COLIHUES TAILINGS DAM – AUGUST 2003 TO FEBRUARY 2006
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1.0 SUMMARY
Minera Valle Central S.A. (MVC), a wholly-owned subsidiary of Amerigo Resources Ltd. (Amerigo), is a Chilean company that extracts copper and molybdenum from tailings discharged from CODELCO’s El Teniente concentrators. The tailings are then returned to El Teniente’s tailings disposal system. Roger Moss, Ph.D., P.Geo., was retained by Amerigo to provide a review of the past and future operation of MVC, to review the historical estimates regarding the Colihues tailings impoundment and to determine if such estimates could be classified as current mineral resources under National Instrument 43-101.
MVC currently has 15 years remaining on its tailings supply contract with El Teniente. It has also negotiated a supplementary source of higher grade tailings from the Colihues tailings impoundment. MVC has the right to treat up to 45,000 tonnes per day (tpd) of tailings from Colihues, mixed with the fresh tailings from El Teniente. El Teniente currently supplies approximately 130,000 tpd of fresh tailings.
This report covers the technical and production aspects of the present and potential future operation. Legal, specific tax issues and economic analysis are not covered.
MVC’s operation is located in Region VI in central Chile, approximately 9 km east of the city of Rancagua. The site is 36 km west of the El Teniente mine and adjacent to the Colihues tailings impoundment. The Colihues impoundment was used from 1977 to 1987. El Teniente now deposits its tailings in the Carén impoundment that is 50 km east of the MVC site.
MVC first started recovering copper by reprocessing El Teniente tailings in 1992. The plant was expanded to 100,000 tpd in 1997 and, in 2004-2005, expanded again to its present capacity of 200,000 tpd.
El Teniente has been in operation since 1904 and is the world’s largest underground copper mine. Current production is approximately 130,000 tpd of ore at an average grade of 1.16%Cu. El Teniente has reported more than 3 billion tonnes in reserves and at the present production rate of 130,000 tpd of ore has more than 60 years life remaining. El Teniente’s production plans include the production of 1,139 million tonnes of tailings over the next 25 years at an average grade of 0.112%CuT (Total Copper) and 0.03% Soluble Cu. Based on historical performance, the authors recommend that this tonnage forecast be discounted by 3.5%, which will not significantly affect MVC’s production.
An inferred resource of 213,697,056 tonnes at a grade of 0.262% CuT and 0.01% Mo, current as of March 7, 2006, has been calculated for the
tailings in the Colihues impoundment. This represents a significant additional supply of high grade tailings for MVC.
MVC plans to extract the tailings from the Colihues impoundment using hydraulic monitors (currently operated by Fraser Alexander), with the backup of a “submersible miner” and dredge pumps on a floating platform. At present the system extracts tailings at the rate of 13,000 tpd, and is projected to expand to a capacity of 45,000 tpd by the end of 2007.
The existing MVC process plant is well designed and maintained and is in good condition. In 2005, it produced 13,552 tonnes of copper in concentrate and 631,843 pounds of molybdenum in concentrate.
MVC estimates that with the present fresh tailings conditions, the projected extraction rate from the Colihues dam (45,000 tpd) and the expansion of the grinding and flotation plant facilities, production of fine copper in concentrates could be increased on an annualized basis to a total of 30,000 tons per annum by the end of 2007.
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MVC reported total cash operating costs to cathode (including royalty payments to the El Teniente Division of Corporacion Nacional del Cobre de Chile (CODELCO)) of US$0.906 per pound for 2005. Dr. Moss has reviewed these costs and considers them reasonable.
At present the plant has all the necessary environmental permits for the grinding and flotation plant expansion, and for the molybdenum plant. The permits for the construction of the industrial water recovery systems (thickeners) are in the approval process.
It is recommended that additional sampling of the Colihues tailings, especially in the central and western portions, be undertaken to increase the confidence in the resource. This will improve the knowledge of grade continuity and should allow an increase in the resource category to indicated or measured.
It is also recommended that alternative methods of tailings extraction from the Colihues dam be evaluated, bearing in mind the environmental impact of each of the methods. Continued optimization of the metallurgical processes such as the proposed construction of thickeners during 2006 will allow MVC to achieve the most efficient and economical means of copper and molybdenum recovery.
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2.0 INTRODUCTION AND TERMS OF REFERENCE
2.1 Introduction
This review of the operation of Minera Valle Central S.A. (MVC) has been co-authored by Roger Moss, Ph.D., P.Geo. and Raúl Poblete de la Cerda, MVC’s General Manager. This report is based on the personal knowledge of Mr. Poblete, the information and observations from site visits and on information provided by MVC, Amerigo and CODELCO’s El Teniente Division.
MVC is a Chilean company with an operation located in Region VI, central Chile that has been extracting copper concentrate from tailings discharged from CODELCO’s El Teniente concentrators since 1992 and molybdenum concentrate since 2005. The tailings from the MVC plant are then returned to El Teniente’s tailings launder and deposited in El Teniente’s Carén tailings disposal facility.
In 2005 the MVC plant treated an average of 124,036 tpd of tailings and produced approximately 13,552 t of copper metal in concentrate and 631,843 lbs. of molybdenum in concentrate.
MVC currently has 15 years remaining on its tailings supply contract with El Teniente. MVC has negotiated a supplementary source of higher grade feed from the Colihues dam.
This report is co-authored by Roger Moss Ph.D., P.Geo (sections 5 to 9) and Raúl Poblete de la Cerda, General Manager for MVC (sections 2-4 and 10-16). The remaining sections are co-authored by Dr. Moss and Mr. Poblete. Mr. Poblete is a graduate of Columbia University, New York, and a professional engineer with more than 40 years professional experience. Mr. Poblete has held managerial positions with Rio Tinto and Codelco, and helped design, build and is now in charge of the operations at MVC.
Roger Moss, Ph.D. and P.Geo., is a consulting geologist and graduated from the University of Toronto with a Ph.D., and has 8 years experience in the mining industry.
The following MVC staff provided assistance during the site visits and information that was used in the preparation of this report:
Manuel Cartagena, Operation and Control Manager Christian Cáceres, Engineering Manager
This report reviews the property, mineral processing and operating costs for the current MVC operation. Rough order of magnitude capital costs are provided for the potential expansions.
2.2 Terms of Reference
Roger Moss, Ph.D, P.Geo., has been retained by Amerigo to oversee the preparation of a review of the operation of MVC as well as to review the historical estimates regarding the Colihues tailings impoundment and to determine if such estimates can be classified as current mineral resources under National Instrument 43-101 (NI 43-101). Raúl Poblete de la Cerda, General Manager for MVC, has authored the review of the operation of MVC. This updated report meets the standards of a “technical report” as defined by NI 43-101.
This review addresses five areas:
The amount and grade of tailings in the Colihues impoundment; Current and potential future operations at MVC; Future tailings production from El Teniente’s operations; The operation of MVC’s tailings processing plant; and Environmental status.
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The following areas are outside the scope of the co-authors’ work:
Legal status of lease agreements, properties, contracts, etc.; and Financial/economic analysis.
2.3 Sources
Climate, local resources and infrastructure were derived from Government of Chile published data.
Production data for the MVC plant and contracts with CODELCO and ENAMI were provided by Amerigo and MVC.
El Teniente production data was provided by El Teniente and MVC.
See Section 18.0 for a list of references.
2.4 Field Involvement of Qualified Person
A field visit was made from March 7-10, 2006 by Roger Moss, Ph.D., P.Geo., a qualified person, who is responsible for this report.
Certificates for Roger Moss, Ph.D, P.Geo., the qualified person responsible for this report, as well as Raúl Poblete de la Cerdaare included in Appendix A.
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3.0 RELIANCE ON OTHER EXPERTS
Roger Moss, Ph.D., P.Geo., the qualified person who prepared Sections 5.0 to 9.0 and supervised the preparation of all of this report, has relied upon Raúl Poblete de la Cerda for matters related to the process engineering and operations of MVC.
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4.0 PROJECT DESCRIPTION AND HISTORY
4.1 Property Description and Location
The MVC operation is located in Region VI (Libertador Bernardo O’Higgins Region) of central Chile at latitude 34° 14’ south and longitude 70° 41’ west (UTM 621000N, 345000E). The site is 9 km east of the city of Rancagua and 90 km south of Santiago (Figure 4-1). The process plant and offices are situated on property owned by MVC that was originally transferred from Corporación Nacional del Cobre de Chile (CODELCO) at no cost to MVC under a separate agreement that formed part of the original transaction.
MVC produces copper and molybdenum concentrates by reprocessing tailings produced by the El Teniente mine, which is owned and operated by CODELCO. The El Teniente mine is 44 km east of Rancagua and tailings are transported to MVC by a 36 km long launder. MVC also has obtained the rights from CODELCO to remove and process tailings from the Colihues tailings deposit which covers 650hectares and is located less than one km south of the MVC plant (Figure 4-2).
Once the tailings have been reprocessed they are returned to the El Teniente tailings launder and deposited into the Carén tailings deposit located approximately 50 km to the west of the MVC site.
Figure 4-1 Location of the Minera Valle Central Operation
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Figure 4-2 Aerial Photograph of the MVC Site Showing Location of Offices, Process Plant
and Colihues Tailings Deposit
Cauquenes
Tailings
Deposit
Colihues
Tailings
Deposit
Canal to Caren
Tailings
Deposit
Tailings
from El
Teniente
MVC
offices
Process
Plant
Direction of
infilling of tailings deposit
Direction of
infilling
of tailings d i
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MVC pays CODELCO a royalty on copper production under a formula that considers both the price of copper and the copper content in the fresh tailings. No royalties are payable in respect of the fresh tailings if the copper price is below US$0.80 per pound (for copper content in tailings between 0.09% and 0.1499%); if the copper price is between US$0.80 and US$0.95 the royalty varies on a sliding scale from 0 to 10%; if the copper price is between US$0.95 and US$1.30 the royalty is 10%; and if the copper price is US$1.30 or higher, the maximum royalty of 13.5% is payable. MVC pays a royalty for production from Colihues on a similar basis to the existing royalty arrangement for fresh tailings material, with the exception that a 3% royalty is payable at copper prices below US$0.80 per pound, and increasing on a sliding scale, capped at 15% if the copper price is US$1.35 per pound or higher. The Colihues royalty is calculated using half the volume of tailings extracted from Colihues, at an assumed copper grade of 0.32% and an assumed recovery rate of 40%. MVC pays CODELCO a flat 10% royalty of MVC’s net revenue received from the sale of molybdenum concentrates.
4.2 Access
The MVC site is accessed by driving approximately one hour (90 km) on the Pan American Highway south from Santiago to Rancagua and a further 15 minutes (9 km) east to the MVC offices. Approximately 7 km of the road from the highway is paved and the remaining 1 km is a well-maintained, all-weather, dirt road to the MVC offices.
There are good road connections from Rancagua to Santiago (90 km) and the ports of San Antonio (159 km) and Valparaiso (207 km).
Personnel and supplies are transported by road between the site and Rancagua or Santiago (Figure 4-1). Copper concentrates are transported to the CODELCO Las Ventanas smelter via road and the molybdenum concentrates are transported to the Molymet smelter at the site called Nos, 70 km north of MVC
Most of the MVC employees live in Rancagua, which is the nearest large town with a population of approximately 190,500 inhabitants.
4.3 Climate
The MVC plant is located in an area that has a Mediterranean-type climate with clearly defined seasons characterized by long, warm, dry summers (8 months) and mild, rainy winters (4 months). Road access and operations are not normally affected by adverse weather conditions.
In Rancagua (approximately 9 km to the west) the average annual precipitation is approximately 300 mm. The rainy months are May to August. The average day temperatures range from 7.5 C in the winter to 30 C in the summer.
Tables 4-1 and 4-2 show the temperatures and precipitation for Rancagua.
Table 4-1Seasonal Temperatures in Degrees Centigrade
Season Maximum Minimum
Winter 21.3 2.1
Spring 29.6 6.1
Summer 32.5 7.6
Autumn 22.5 5.3
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Table 4-2Precipitation in mm
Season Average
Winter 85.4
Spring 8.5
Summer 5.2
Autumn 188
4.4 Local Resources and Infrastructure
Rancagua is the capital of Chile’s Region VI, Region del Libertador General Bernardo O’Higgins. The region’s main activities are agriculture, wine making and mining. The region has a population of approximately 700,000 inhabitants of which approximately 190,500 live in Rancagua.
Rancagua has many service companies oriented to the mining industry and most supplies and services are available there. More specialized items and services can be quickly obtained from Santiago. Chile has a long history of mining therefore consumables, equipment and services are readily available. Community services, hospitals, etc. are available in Rancagua.
The operation obtains power from the national grid (Endesa). The plant has four generators which together have a backup capacity of approximately 910 Kva. These provide sufficient power for lighting and essential operations in the event of a power failure.
Management and senior staff are based at the Colihues MVC site and report to the General Manager. The Colihues office coordinates government relations, legal and similar tasks. Personnel live in the local area and commute to the site each day by transportation provided by the company. Operations work an 8-hour shift. MVC was non-union until March 2002 when a labour union was formed. MVC has low personnel turnover.
Process water consists of the slurry water that transports the tailings to the site, additional water that is decanted from the Colihues tailings impoundment and water from irrigation channels. A plan to recover water from the MVC tailings is in process and expected to be completed by September of 2006. Current water usage is between 500 and 600 l/s. Bottled water is used for drinking and water from underground sources is used for showers and bathrooms. Telephone and data transmission at the site are provided by land lines.
4.5 Physiography
The site is on the south side of the Rio Claro de Cauquenes river valley (see Figures 4-2 and 4-3) and the physiography consists of rolling hills and foothills of the Andes Mountains. The process plant is at an elevation of 650 metres above sea level (masl) and the offices are at 590 masl. The top of the Colihues tailings deposit is at 670 masl.
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Figure 4-3Photograph of the MVC Plant, Cascade System and Offices
Cascade
System
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4.6 History
The following is a summary of the project’s history:
1904 – The El Teniente mine commenced production and has gradually increased production to the current approximate 130,000 tpd.
1989 – CODELCO issued a tender to bidders for the rights to operate a tailings retreatment plant for the tailings from El Teniente.
1989 – MVC was the successful bidder.
October 1992 – MVC commenced operation with a simple cascade frothing and flotation cleaning circuit at a cost of US$8 million to recover copper from the fine fraction of the tailings.
1992 – Subsequent to the completion of MVC’s processing plant the El Teniente supply contract commenced, valid for a period of twenty years.
1996 – MVC added a new treatment plant to enhance the recovery of the metal contained in the coarse fraction of the tailings. An investment of $21 million was required to add sections for fine grinding and conventional flotation of the copper.
1997 – Once the plant expansion was completed MVC and El Teniente extended the term of the operating contract to 25 years, commencing at the start-up of the expanded operations and extending until January 2022.
2003 - Amerigo acquired MVC.
2004 - Engineering for the plant expansion was initiated and engineering for a molybdenum recovery plant was initiated.
2005 - The molybdenum plant was completed and production of Molybdenum commenced. The construction of the initial plant expansion was completed and included the following modifications to the existing facilities:
Increase in grinding and classification capacity
Increase in flotation capacity, both mechanical and column cells
A fifth line of cascade flotation
Increase in cascade concentrate pumping capacity
February 2006 - Current throughput at the MVC processing plant is 130,000 tpd and design capacity is 200,000 tpd.
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4.7 Adjacent Properties
Approximately 3 km from the MVC facility is the Cauqenes tailings dam. This tailings facility contains the tailings deposited by El Teniente from 1936 to 1975. This dam covers approximately 640 hectares with a total volume estimated to be 270 million m
3 (Dold and Fontboté, 2001). MVC does not have contractual
rights to process this material.
Other than the Cauquenes tailings dam, this section is not applicable as this project involves the processing of tailings. All fresh tailings material processed by the MVC operation is received under a long-term contract with El Teniente. Please refer to Section 10.0 “Plant Feed Supply”.
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5.0 GEOLOGY AND MINERALIZATION
5.1 Source of Tailings
The tailings deposited in the Colihues tailings dam during the period 1977 to 1987 originated at the El Teniente mine of Corporacion Nacional del Cobre de Chile (CODELCO).
El Teniente is located in the Andes of central Chile and is a porphyry copper-molybdenum deposit. Most of the high grade copper ore at El Teniente is hosted by vertically extensive hydrothermal breccia pipes hosted in a mafic intrusive complex. The deposit is zoned from a barren core through a narrow zone of bornite rich mineralization outwards into the main chalcopyrite dominant mineralized breccias. Several phases of breccia emplacement with associated copper and molybdenum mineralization occurred over a period of 2 million years. Focused intrusive activity with attendant mineralization at the intersection of major structures over such an extended period of time resulted in the formation of the El Teniente deposit. (Skewes et al., 2005).
5.2 Characteristics of Tailings
The following description of the Colihues tailings is taken from Hodgson et al., 2002. The tailings dam is located approximately one kilometre south of the Minera Valle Central (MVC) Plant. The tailings were dumped from the pipes and launders at the southeast end of the pond, and flowed, as a slurry, for up to 5 km toward dam wall A at the northern end of the impoundment. A large portion of the tailings is currently underwater (Figure 5.1) although the water level varies on a seasonal basis.
Tailings grains consist of quartz, pyrite, clay minerals and iron oxides. While the tailings are dominated by fine grained (<325 mesh material), the coarse grained (>100 mesh) material also contains a high proportion of copper (Table 5-1). The tailings are laminar, and show cm – scale horizons of alternating fine and coarse grained material.
Table 5-1 Granulometric and Assay Results for Samples from Colihues Tailings (Hodgson et al., 2002)
SampleID
CuTotal
%
CuSulphide
%
Cu Total-325
%
Cu Total+325-100
%
CuTotal+100
%
Fraction-325
%
Fraction +325-100
%
Fraction+100
%
Z1 0.31 0.18 74 16 10 66 24 9
Z2 0.30 0.19 66 17 18 57 27 16
Z3 0.30 0.18 72 16 12 62 26 12
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Figure 5-1 View of Northern Portion of the Colihues Tailings Dam
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6.0 SAMPLING METHOD AND APPROACH
Please refer to Section 9.3 “Colihues Production Records and Additional Sampling” for details regarding sampling programs carried out on the Colihues dam prior to the start of production from the dam.
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7.0 SAMPLE PREPARATION, ANALYSIS AND SECURITY
Please refer to Section 9.6 “Density Measurement”.
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8.0 DATA VERIFICATION
Please refer to sections 9.2 “Historical Records”, 9.3 “Colihues Production Records and Additional Sampling”, 9.4 “Verification”, 9.6 “Density Measurement”, 9.8 “Classification of Resource” and 10.1 “El Teniente Tailings”.
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9.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES
The Colihues tailings dam (Figure 9-1) is a man-made deposit that was built up during the period July 1977 to December 1986. It was the site for the disposal of tailings produced during the processing of copper-molybdenum ore at the El Teniente Mine owned by CODELCO.
9.1 Methodology
Sampling of the Colihues tailings dam in the form of regularly spaced drilling is not available for use in estimating a mineral resource for the Colihues tailings. However, CODELCO has provided to MVC sufficiently detailed records of tailings disposal over the 9.5-year period that the tailings dam was used, so that the total amount and grade of tailings sent to the Colihues dam can be calculated.
Since beginning production of copper from the Colihues tailings dam, MVC have processed over 2.7 million tonnes of tailings material. Samples of this material are analyzed by an independent on-site laboratory on a daily basis. The bulk of the production (to January 2006) has come from material dredged below the water level near wall A in the northern portion of the deposit (Figure 9-1). During February 2006 MVC started production from exposed tailings in the southeast portion of the tailings dam close to wall B using hydraulic monitors (high pressure water canons). The production from these two areas is considered equivalent to two bulk samples of the tailings that can be used to check the continuity of grade in the tailings deposit. It also provides an independent check on the grade of tailings as specified in CODELCO’s historical records.
Figure 9-1 Northern Edge of Colihues Tailings Dam Showing Wall A and Dredge Pumps
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In addition to the production from Colihues tailings, several sampling programs were undertaken in April 1998 and August and October 2001. These programs covered an area along the northeast section of the tailings dam, and can be used as a further check on the grade distribution within the deposit.
An independent check of the volume of tailings can be undertaken by calculating the volume of material in the dam based on the surface area and depth of the dam. Such a study was completed by Golder Associates and Rahco International in September 2005.
9.2 Historical Records
CODELCO’s El Teniente mining division processes ore in two concentrators (Sewell and Colon) and carries out metallurgical balances on a daily, monthly and yearly basis. The metallurgical balances show the characteristics and distribution of the products of processing the El Teniente ore, including the tailings. CODELCO has supplied MVC with a summary of the tailings characteristics for the 9.5-year period that the Colihues tailings dam was operational (Budinitch 2002). The validity of this data has been confirmed by the author for the years 1977 to 1982 by reference to the actual metallurgical balance given in an annual report for the El Teniente Concentrators (Gutierrez, 1983). In addition to confirming the summary of Budinitch (2002), this report also gives the molybdenum grades of the tailings for the years 1977 to 1982. A summary of the data is given in Tables 9-1 and 9-2 below.
Table 9-1 Summary of Tailings Produced at El Teniente and Fed into the Colihues Tailings Dam
During the Period July 1977 to December 1986
Year Ore Treated Cu Grade Tailings produced Cu Grade Contained Cu
Tonnes % Million Tonnes % tonnes
1977* 10,112,838 1.588 9,767,003 0.246 24,026
1978 20,663,749 1.544 19,538,624 0.229 44,743
1979 21,121,526 1.594 20,441,864 0.257 52,536
1980 21,023,834 1.643 20,320,355 0.275 55,881
1981 19,627,203 1.799 18,943,890 0.271 51,338
1982 23,250,317 1.775 22,453,713 0.297 66,688
1983 24,136,476 1.55 23,381,476 0.271 63,364
1984 24,563,964 1.456 23,764,923 0.251 59,650
1985 27,370,798 1.45 26,493,078 0.247 65,438
1986 32,408,436 1.415 31,383,984 0.27 84,737
Total 216,488,910 0.263
Notes:
*The amount of ore treated during 1997 is reduced by half in this table to reflect the use of Colihues starting only in July 1977 and not January 1977. This assumes that the El Teniente production was constant during the year, which is likely not the case, but is the best estimate in the absence of monthly production reports. The tailings produced were recalculated using the figures from the metallurgical balance for 1977.
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Earlier reports have stated that tailings continued to be dumped into the Colihues dam until February of 1987. However, MVC records indicate that tailings disposal had switched to the Carén dam by the end of 1986, and the Colihues dam was used only when problems were experienced with feeding the new dam. Since the distribution of tailings between the two dams is not known, no tailings have been assigned to Colihues for the period January and February 1987.
Table 9-2 Summary of Tailings Produced During the Period 1977 to 1982 from Gutierrez, 1983
YearOre
TreatedCu
GradeMo
GradeTailings
produced Cu
GradeContained
CuMo
gradeContained
Mo
Tonnes % % Tonnes % Tonnes % Tonnes
1977 20,225,676 1.588 0.037 19,538,624 0.246 48,065 0.013 2,540
1978 20,663,750 1.544 0.0389 19,538,624 0.229 44,743 0.012 2,345
1979 21,121,526 1.594 0.02 20,441,864 0.257 52,536 0.006 1,227
1980 21,023,834 1.642 0.0231 20,320,355 0.275 55,881 0.009 1,829
1981 19,627,203 1.799 0.0286 18,943,890 0.271 51,338 0.009 1,705
1982 23,250,317 1.775 0.0268 22,453,713 0.297 66,688 0.01 2,245
A monthly summary of the metallurgical balance contained in the 1982 annual report (Gutierrez, 1983) was reviewed to check the variation in grade of the tailings on a month-to-month basis. The 1982 year is the only one for which the monthly metallurgical balance is available. The copper grade varies from 0.275% to 0.325% over the course of the year – a difference of 0.05% Cu. Molybdenum grade varies from 0.007 to 0.012 over the course of the year, a difference of 0.005 % Mo (Table 9-3).
Table 9-3 Monthly Summary of Tailings Produced During the Year 1982 from Gutierrez, 1983
Month Ore Treated Cu
Grade Mo Grade Tailings
produced Cu Grade Mo grade
Tonnes % % Tonnes % %
January 1,854,345 1.79 0.026 1,789,772 0.275 0.0095
February 1,759,461 1.76 0.026 1,699,690 0.278 0.007
March 1,915,677 1.80 0.026 1,848,981 0.288 0.008
April 1,942,524 1.80 0.027 1,875,592 0.303 0.009
May 1,932,419 1.89 0.029 1,861,125 0.307 0.010
June 1,840,376 1.87 0.024 1,774,346 0.325 0.011
July 2,028,917 1.79 0.025 1,959,820 0.312 0.01
August 2,058,650 1.75 0.025 1,988,696 0.293 0.01
September 1,848,302 1.74 0.029 1,788,417 0.296 0.012
October 2,078,959 1.73 0.029 2,011,460 0.297 0.012
November 1,975,604 1.76 0.029 1,907,408 0.302 0.011
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Month Ore Treated Cu
Grade Mo Grade Tailings
produced Cu Grade Mo grade
Tonnes % % Tonnes % %
December 2,015,183 1.636 0.024 1,948,406 0.288 0.012
Total 23,250,317 1.775 0.0268 22,453,713 0.297 0.01
9.3 Colihues Production Records and Additional Sampling
Daily records of production from the Colihues dam for the period August 2003 to March 2006 were examined as an independent check of the variability of grade in the tailings.
Table 9-4 summarizes the monthly production figures for Colihues tailings, and the daily summaries are given in Appendix B. A total of 2,791,854 tonnes of tailings at an average grade of 0.284% Cu have been processed by MVC between the beginning of production in April 2003 and March 7, 2006.
Most of the production to date has come from dredging in the vicinity of Wall A at the northern end of the tailings dam. The extraction to date covers an area of approximately 900 metres northwest-southeast by 300 metres northeast-southwest (27 hectares). This area represents 4% of the total area of the tailings dam calculated by Golder Associates to be 650 ha.
Since February 2006, high pressure extraction of tailings using hydraulic monitors (Water Canons) has been used to extract tailings from a portion of the dam not underwater near wall B (Figure 9-2).
The grade determined from the production over the last 35 months varies between 0.256% Cu and 0.318% Cu a difference of 0.062% Cu corresponding to a percentage difference of 19.5% (Table 9-4).
Several sampling programs described in the AMEC Report (Hodgson et al., 2002) were carried out prior to the start of production from the Colihues dam. Three of the programs were conducted by MVC during April 1998, August 2001 and October 2001. In addition, AMEC undertook an independent sampling program during 2002. The sampling programs were as follows:
April 1998 – MVC: 15 near surface samples were collected from pits in two groups between the Barge and the Island
August 2001 – MVC: 8 samples were collected from pits in the east portion of the tailings dam near wall B.
October 2001 – MVC: 14 samples were collected from in front of the Barge using an airlift drill.
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Figure 9-2 Hydraulic Monitor Operating at Colihues Tailings Dam
Table 9-4 Summary of MVC’s Monthly Production from Colihues Tailings Dam
Date Tonnage CuT Total CuT CuOx Total CuOx Tonnes % Tonnes % Tonnes
Apr-03 50,635 0.310 157 0.084 42
May-03 58,242 0.304 177 0.068 39
Jun-03 26,090 0.303 79 0.059 15
Jul-03 35,562 0.318 113 0.061 22
Aug-03 36,101 0.317 114 0.068 25
Sep-03 33,812 0.269 91 0.062 21
Oct-03 47,026 0.299 141 0.081 38
Nov-03 54,855 0.312 171 0.081 44
Dec-03 75,035 0.304 228 0.079 60
Jan-04 47,980 0.292 140 0.072 35
Feb-04 60,934 0.300 183 0.065 40
Mar-04 52,010 0.292 152 0.072 38
Apr-04 68,654 0.289 198 0.061 42
May-04 71,433 0.261 187 0.052 37
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Date Tonnage CuT Total CuT CuOx Total CuOx Tonnes % Tonnes % Tonnes
Jun-04 68,694 0.256 176 0.051 35
Jul-04 62,482 0.273 170 0.054 34
Aug-04 58,521 0.282 165 0.075 44
Sep-04 96,465 0.281 271 0.065 63
Oct-04 106,672 0.294 313 0.064 69
Nov-04 107,001 0.287 307 0.079 85
Dec-04 100,922 0.270 272 0.066 66
Jan-05 79,579 0.266 211 0.076 60
Feb-05 111,576 0.280 312 0.077 86
Mar-05 117,639 0.282 331 0.071 83
Apr-05 137,740 0.277 381 0.067 92
May-05 78,464 0.280 220 0.063 49
Jun-05 49,731 0.293 146 0.076 38
Jul-05 93,743 0.293 275 0.077 72
Aug-05 78,544 0.296 232 0.079 62
Sep-05 106,300 0.297 316 0.070 75
Oct-05 112,428 0.284 319 0.080 90
Nov-05 109,404 0.272 298 0.074 80
Dec-05 108,489 0.268 291 0.066 72
Jan-06 63,637 0.271 173 0.067 43
Feb-06 149,186 0.276 411 0.095 141
01-Mar-06 12,536 0.292 36.6 0.109 13.7
02-Mar-06 10,346 0.292 30.2 0.107 11.1
03-Mar-06 8,259 0.292 24.1 0.108 8.9
04-Mar-06 10,910 0.300 32.7 0.118 12.9
05-Mar-06 13,050 0.296 38.6 0.112 14.6
06-Mar-06 13,997 0.268 37.5 0.096 13.4
07-Mar-06 7,169 0.264 18.9 0.090 6.5
Total 2,791,854 0.284 7,942 0.072 2,016
Mar-06* 337,751 0.287 969 0.106 359
* Projected production
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Table 9-5 Assay Results for MVC August 2001 Sampling Program
Pit # Cu Total
%Cu Sulphide
%Mo%
1 0.31 0.19 0.0105
2 0.315 0.17 0.0100
3 0.285 0.17 0.0115
4 0.294 0.17 0.0110
5 0.272 0.15 0.0105
6 0.249 0.13 0.0105
7 0.282 0.14 0.0095
8 0.262 0.15 0.0100
Average 0.284 0.16 0.0104
Table 9-6 Assay Results for MVC October 2001 Airlift Sampling Program
Distance from Pump Station raft
Cu Sulphide%
Mo%
0 0.16
50 0.15
100 0.25
150 0.22
200 0.24
250 0.25
Average 100 –250 0.239 0.0104
Table 9-7 Assay Results for AMEC 2002 Sampling Program
Cu Cu Cu Sample N° Total Soluble Insoluble
% % % 2036-20 +100 0.075 0.021 0.054
2036-20 +325 0.053 0.014 0.039
2036-20 -325 0.111 0.031 0.080
2036-21 +100 0.330 0.145 0.185
2036-21 +325 0.171 0.106 0.065
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Cu Cu Cu Sample N° Total Soluble Insoluble
% % % 2036-21 -325 0.386 0.307 0.079
2036-22 +100 0.387 0.152 0.235
2036-22 +325 0.208 0.120 0.088
2036-22 -325 0.529 0.411 0.118
2036-50 +100 0.184 0.058 0.126
2036-50 +325 0.101 0.053 0.048
2036-50 -325 0.280 0.203 0.077
2036-51 +100 0.356 0.150 0.206
2036-51 +325 0.216 0.130 0.086
2036-51 -325 0.474 0.380 0.094
2036-52 +100 0.201 0.075 0.126
2036-52 +325 0.121 0.064 0.057
2036-52 -325 0.275 0.204 0.071
2036-53 +100 0.166 0.068 0.098
2036-53 +325 0.115 0.059 0.056
2036-53 -325 0.237 0.160 0.077
2036-70 +100 0.133 0.047 0.086
2036-70 +325 0.079 0.039 0.040
2036-70 -325 0.236 0.118 0.118
2036-71 +100 0.312 0.148 0.016
2036-71 +325 0.204 0.123 0.081
2036-71 -325 0.475 0.370 0.105
2036-72 +100 0.180 0.069 0.111
2036-72 +325 0.112 0.059 0.053
2036-72 -325 0.257 0.183 0.074
2036-73 +100 0.182 0.070 0.112
2036-73 +325 0.115 0.064 0.051
2036-73 -325 0.279 0.198 0.081
2036-80 +100 0.197 0.036 0.161
2036-80 +325 0.069 0.027 0.042
2036-80 -325 0.207 0.108 0.099
2036-81 +100 0.160 0.011 0.149
2036-81 +325 0.074 0.009 0.065
2036-81 -325 0.147 0.032 0.115
2036-82 +100 0.335 0.049 0.286
2036-82 +325 0.125 0.045 0.080
2036-82 -325 0.338 0.210 0.128
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Cu Cu Cu Sample N° Total Soluble Insoluble
% % % 2036-83 +100 0.401 0.064 0.337
2036-83 +325 0.128 0.045 0.083
2036-83 -325 0.361 0.233 0.128
2036-100 +100 0.030 0.005 0.025
2036-100 +325 0.025 0.005 0.020
2036-100 -325 0.089 0.015 0.074
2036-101 +100 0.289 0.003 0.286
2036-101 +325 0.090 0.004 0.086
2036-101 -325 0.103 0.009 0.094
2036-102 +100 0.689 0.076 0.613
2036-102 +325 0.172 0.064 0.108
2036-102 -325 0.430 0.282 0.148
2036-120 +100 0.093 0.017 0.076
2036-120 +325 0.057 0.015 0.042
2036-120 -325 0.131 0.055 0.076
2036-121 +100 0.214 0.088 0.126
2036-121 +325 0.156 0.089 0.067
2036-121 -325 0.400 0.298 0.102
2036-122 +100 0.301 0.133 0.168
2036-122 +325 0.185 0.110 0.075
2036-122 -325 0.450 0.337 0.113
2036-123 +100 0.290 0.127 0.163
2036-123 +325 0.186 0.106 0.080
2036-123 -325 0.442 0.319 0.123
Avg +100(no dups) 0.248 0.071 0.177
Avg -100+325 (no dups) 0.123 0.060 0.063
Avg -325(no dups) 0.295 0.197 0.098
AVERAGE 0.235 0.119 0.117
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Table 9-8 Comparison of Average Copper and Molybdenum Values between the Four Sampling Programs,
CODELCO’s Historical Records and MVC’s Production Record
Company Date Cu total
%
CuSoluble
%
CuInsoluble
%Mo% Reference
MVC March 2006 0.284 0.075 0.21 - Production records (see table 9-4)
AMEC 2002 0.235 0.119 0.117 0.0131* Hodgson et al., 2002
MVC October 2001 - - 0.239 0.0104 Hodgson et al., 2002
MVC August 2001 0.284 0.134 0.150 0.0104 Hodgson et al., 2002
MVC April 1998 0.290 0.110 0.18 Hodgson et al., 2002
CODELCO February 2002 0.263 Budinitch, 2002
* average of 15 sub-samples from 5 samples
The grades of MVC’s sampling programs and production are consistently higher than the average grade calculated from the historical records of CODELCO. The average production grade is 0.021% higher in copper than the average historical grade, a percentage difference of 7.4%. It should be noted that the historical records show that tailings produced during 1982 ranged from 0.275 to 0.325% Cu, indicating that such variation should be expected during production. Results of the MVC sampling also show similarly higher values. In contrast, the sampling of AMEC shows a lower average grade of 0.235% Cu giving a percentage difference of 10.6%. These differences are not considered large and lie within the range of 0.229% Cu and 0.297% Cu indicated by Codelco’s historical records (Figure 9-3).
9.4 Verification
Due to time constraints, no independent sampling was conducted by the author during the course of this investigation. However, at the request of the author, ten samples from MVC’s Colihues production were reanalyzed at the independent onsite laboratory. The results of these analyses as well as the original analyses are shown in Table 9-9 and graphically illustrated in Figure 9-4. All samples were analyzed by Alfred H. Knight the independent on site laboratory. Copper and molybdenum are analyzed by Atomic Absorption analyses. Minera Valle Central does not routinely submit standards or duplicates with their samples, but the laboratory does run standards, duplicates and blanks.
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Figure 9-3 Comparison of Grades Between Sampling, MVC Production and Historical Records
Table 9-9 Results of Check Assays from MVC Production Samples from Colihues Tailings Dam
Check Samples Original
%Difference
Sample ID CuT
%CuOx
%CuT
%CuOx
%CuT
%
Dredge SamplesSeptember 0.292 0.100 0.297 0.070 1.7
October 0.304 0.109 0.284 0.080 6.6
November 0.268 0.096 0.272 0.074 1.5
December 0.300 0.116 0.268 0.066 10.7
January 0.280 0.083 0.271 0.067 3.2
Average 0.289 0.101 0.279 0.071
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Check Samples Original
%Difference
Sample ID CuT
%CuOx
%CuT
%CuOx
%CuT
%
Hydraulic Monitor Samples24-02-2006 0.260 0.104 0.264 0.095 1.5
25-02-2006 0.264 0.093 0.284 0.134 7.0
26-02-2006 0.288 0.152 0.272 0.130 5.6
27-02-2006 0.268 0.141 0.284 0.112 5.6
28-02-2006 0.288 0.138 0.272 0.120 5.6
Average 0.274 0.126 0.275 0.118
Figure 9-4 Scatterplot of Check Assays Compared to Original Assays for
MVC Production from Colihues Tailings
0.25
0.26
0.27
0.28
0.29
0.3
0.31
0.25 0.26 0.27 0.28 0.29 0.3 0.31
Check Assay CuT (%)
Ori
gin
al A
ssay
Cu
T
Dredge Samples
Hydraulic monitor samples
A comparison of the check samples with the original samples shows that the differences are small, typically less than 10%, with the exception of the December dredge sample which is slightly higher than 10%. This level of precision is considered acceptable.
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9.5 Bathymetric Study
Golder Associates and Rahco International undertook a detailed study of the Colihues tailings dam during 2005 (Medina, 2005). The topography of the top of the tailings dam was determined using differential global positioning system to an accuracy of approximately 0.5 metres. The topography of the base of the tailings was determined by digitizing the 1:25,000 scale IGM topographic map Rancagua Y Laguna Cauquenes. Digital terrain models were developed for both the basal topography and the Golder Associates determined topography of the top of the tailings dam. The depth of the tailings was determined by subtraction of these two models, and a map produced showing the depths to the base of the tailings.
The depths are considered to be minimum depths especially in the area of wall A, since the basal topographic map was created from aerial photography completed in 1978, the second year of tailings disposal in the Colihues dam. The calculated depth of the tailings varies from one metre in the southeastern most portion to 33 metres in the central portion of the dam close to wall B.
Following the determination of the depth of tailings, the volume of tailings present in the dam was calculated by Golder Associates. The calculated volume ranged between 100 and 150 million M
3, over a
surficial area of 650 ha (Medina, 2005). The large range in the calculated volume is due to uncertainty in the bottom topography caused by the 25 metre contour spacing of the IGM topographic map (Claudio Medina, Pers. Comm. 2006).
9.6 Density Measurement
MVC recently sampled the Colihues tailings material and determined the density. A 4-metre deep pit was dug with a backhoe, and the sample was taken at the base of the pit. The sample was taken using a 1.5 metre long plastic pipe with a diameter of 2 inches inserted vertically into the tailings at the base of the pit. The pipe was extracted with the contained sample which was placed into a plastic bag and taken to the laboratory for density determination. The density of the Colihues tailings was determined to be 1.864 tonnes/m
3. This value corresponds to the value quoted by AMEC in the 2002 report (Hodgson
et al., 2002).
9.7 Tonnage Estimate for the Colihues Tailings Dam
A tonnage estimate of the Colihues tailings dam is used to determine whether or not the historical records of the amount of CODELCO’s tailings production as given in Table 9-1 can be independently verified.
The volume of material in the Colihues dam has been calculated by independent consultant Golder Associates. The results of the determination indicate a volume ranging from 100 million m
3 to
150 million m3. Using the measured density of 1.864 tonnes/m
3 results in a tonnage ranging from
186,400,000 tonnes to 279,600,000 tonnes of tailings. The 216,488,910 tonnes of tailings delivered to Colihues according to the historical records of CODELCO clearly fall within these limits.
9.8 Classification of Resource
The historical records of CODELCO’s disposal of tailings into the tailings dam represent a detailed account of the tonnage and grade that was sent to the Colihues dam. These records have been furnished by a major producing mining company and are believed to be reliable. However, independent checks on the reliability of the tonnage and grade of the historical records have been compiled. Several sampling programs, as well as MVC production from the Colihues tailings dam, indicate average grades within 10% of that indicated by the historical records. An independent study of the volume of tailings contained in the Colihues dam resulted in a range of volumes, the corresponding tonnage of which
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envelopes the tonnage calculated from the historical records. The historical records are therefore considered to have been verified in terms of both grade and tonnage.
The CIM Definition Standards on Mineral Resources and Mineral Reserves states that a mineral resource is an inventory of mineralization that under realistically assumed and justifiable technical and economic conditions might become economically extractable. MVC has been producing copper economically for almost three years from the Colihues tailings dam, but until now, no specific mineral resource or reserve has been identified.
Based on the information available at the time of writing, there is sufficient geological evidence to conclude that the Colihues tailings dam contained an inferred mineral resource of 216,488,910 tonnes at an average grade of 0.262% Cu and 0.01% Mo prior to the commencement of production by MVC. This resource is equivalent to the grade and tonnage outlined in the historical records and represents an in-situ resource at a zero grade cut-off based on dry density estimates.
This inferred mineral resource has been reduced by the production from the Colihues dam and as at March 7, 2006 stands at 213,697,056 tonnes at a grade of 0.262% Cu and 0.01% Mo.
The inferred mineral resource is more than sufficient to support Amerigo Resources’ stated objective to produce 45,000 tonnes per day for the next ten years, equivalent to 164,250,000 tonnes based on 365 days a year production, from the Colihues tailings dam.
The material in the Colihues tailings dam was classified as an inferred mineral resource taking the following uncertainties into account:
The density of 1.864 t/m3used to convert the volume estimated by Golder Associates into
a tonnage is based on limited determinations.
The sampling and production used to verify the grade of the historical records has been confined to the northeastern side of the tailings dam and covers less than 10% of the total area of the tailings dam.
The large range of copper content determined during the AMEC sampling (see section 6.3) indicates variability in grade that is not reflected in MVC’s sampling or production. It is likely that the lower end of this range is due to oxidation and leaching of copper in the near surface.
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10.0 PLANT FEED SUPPLY
10.1 El Teniente Tailings
As described in Section 4.0, MVC currently receives all of its tailings supply from El Teniente’s two concentrators.
The Sewell Concentrator is located on the surface, below the Teniente Level 5 elevation, and is fed by a railroad which transports ore from an area known as the ‘crater’. This concentrator is scheduled to cease operations in the year 2007.
The primary crushing plant located inside the mine at the Teniente Level 6 is fed with ore originating from Esmeralda and other sectors. The Colón Concentrator located in the Alto Colón area has secondary crushing and SAG Mill facilities.
Geomechanics
Currently, the ore is extracted mainly from primary mineralization, a small portion is extracted from secondary mineralization.
Initially, during the development of the Teniente Sub-level 6, there were several rock bursts that significantly affected the development and also caused loss of lives. Mine management resorted to mining other areas while they searched for technical solutions to control the rock bursts.
Using a different block caving direction along with pre-caving techniques and other pre-conditioning techniques, has reduced the rock bursts and allowed mining to continue.
Mine Production Statistics
From the daily average production figures (tonnage and Cu grade) versus the scheduled daily production provided by El Teniente the percentage differences shown in Table 10-1 were calculated.
Table 10-1 El Teniente Mine Production Variation Actual vs. Planned
1998 1999 2000 2001 2002 2003 2004 2005 Daily average tonnage (actual/planned) %
99.1 98.4 97.1 98.0 96.5 88.9 97.1 100.7
Average Cu grade (actual/planned) %
96.0 98.0 105.0 101.97 102.72 89.3 98.3 99.1
Mining of secondary mineralization will finish by the year 2006. After that, all production will originate from primary mineralized ore (data provided by El Teniente) and the grade will tend to vary less. Table 10-2 shows the planned average grades and production to the year 2025.
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Table 10-2 Grades and Tonnages of Fresh Tailings Projected by El Teniente
Year 2006 - 2010 2011 – 2015 2016 - 2020 2021 - 2025
tpd 132,100 135,300 179,400 216,000
% CuT 1.07 1.04 0.92 0.89
From the information provided, it can be concluded that the mine historically has not met the mining production plans, with tonnage shortfalls of up to 3.5% below that scheduled. However, by mining higher grade ore the total copper production has exceeded the plan.
After 2006, production will be from primary mineralized rock. It can therefore be assumed that annual variations in actual production tonnages will be similar to those experienced in the past. The achievement of the plan will depend on the success of mine development and preproduction. The primary ore contains an average of 0.03% oxide copper compared to approximately 0.05% in recent years.
Concentrator Production Statistics
Reviewing data for 1998 to 2005, it can be seen that production of copper in concentrate during 1998 and 1999 was below that scheduled. However, from 2000 to the first quarter of 2006 copper production exceeded the scheduled amount. The following table shows ore tonnages received from the mine and processed by the concentrator, and concentrate and tailings tonnages and grades.
Table 10-3 El Teniente Recent Tailings Deliveries
2003 2004 2005 DET* MVC DET MVC DET MVC
Mine Production (tonnes/year) 34,099,404 32,182,367 43,475,381 42,942,903 45,983,173 44,653,199
Tonnes Cu/year 39,896 34,682 51,301 47,067 52,421 50,977
CuT in Tailings (%) 0.117% 0.108% 0.118% 0.110% 0.114% 0.114%
* Division El Teniente
A detailed review of the tonnages processed in 2003 and the first quarter of 2005 shows that production tonnages and grades have been close to plan.
The production plan for 2006 to 2025 is provided in Table 10-4.
Table 10-4 El Teniente Production Plan to 2025
Year tpd tpa % Cu T % Rec
2006 131,000 47,448,200 1.03 89.43
2007 131,500 47,629,300 1.04 89.37
2008 132,000 47,942,400 1.07 89.53
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Year tpd tpa % Cu T % Rec
2009 132,500 47,991,500 1.09 89.53
2010 133,500 48,353,700 1.10 89.44
2011 134,000 48,534,800 1.09 89.57
2012 134,500 48,850,400 1.05 89.48
2013 135,500 49,078,100 1.03 89.31
2014 136,000 49,259,200 1.01 89.47
2015 136,500 49,440,300 1.02 89.31
2016 137,000 49,758,400 1.01 89.48
2017 190,000 68,818,000 0.92 89.50
2018 190,000 68,818,000 0.91 89.52
2019 190,000 68,818,000 0.88 89.33
2020 190,000 69,008,000 0.90 89.45
2021 190,000 68,818,000 0.92 89.56
2022 190,000 68,818,000 0.90 89.44
2023 220,000 79,684,000 0.84 89.23
2024 240,000 87,168,000 0.85 89.26
2025 240,000 86,928,000 0.95 89.57
The data in Table 10-4 show that the concentrator can achieve the planned production if the mine delivers the tonnage and grade of ore planned. However, the average recovery calculated between 2005 and 2027 is 89.49% and the concentrator recently has not achieved better than 89.11%. The lower oxide copper (acid soluble copper) content of the primary ore will benefit concentrator recovery and assist in attainment of the target.
Tailings
Historically there have been differences in the tonnages and grades of tailings delivered to MVC as stated by El Teniente and as measured by MVC. This is shown in Table 10-5. The %CuT differs only slightly, however, the tonnage reported by MVC is consistently lower than that reported by El Teniente by approximately 3% to 7%. The El Teniente figure is calculated from the concentrator metallurgical balances while the MVC Figure is determined from flow and pulp density measurements. MVC takes pulp samples throughout the plant to provide shift composites according to normal industry practice. The samples are prepared and assayed in an on site laboratory. There appears to be excellent historical correlation between MVC’s metallurgical balance for copper produced and the receipts of copper in concentrate at the CODELCO smelter.
The on site laboratory is operated by an independent company, Alfred H. Knight Chile S.A. (AHK). AHK is a reputable company which provides analytical services to the mining industry. The key plant samples are taken by automatic sample cutters approximately every 20 minutes. Every 3 hours, the pulp composites of these samples are taken to the laboratory for filtration, drying, and analysis. Each truck load of concentrate dispatched to the smelter is sampled at various points in the load using a tube sampler. A composite sample from each load is dried and analysed.
Raul Poblete has reviewed the protocols for sampling and analysis and is of the opinion that they meet recognized industry standards.
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Table 10-5 Tonnage and Grade Differences for Tailings Received by MVC
2003 2004 2005 Programado Real Programado Real Programado Real
Production tonnage (million tonnes/year)
40 (*) 46 (*) 47 (*)
Tailings(million tonnes/year)
38 34 45 43 46 46
Difference 4.2 1.3 -0.3
(*): Information from El Teniente not available
The planned tailings production from 2006 to 2025 is shown in Table 10-6 below. These values are very close to the projected numbers set out in MVC’s contract with El Teniente, although the projected values of tonnes of copper in the tailings tend to be slightly higher than is set out in the contract. The contract values are shown in Figure 12-1.
Table 10-6 El Teniente Planned Tailings Production to 2025
Tailings Fine Year tpa % CuT tpa tpd 2006 46,010,505 0.112 51,532 142
2007 46,178,810 0.114 52,644 145
2008 46,453,184 0.115 53,421 147
2009 46,489,935 0.118 54,858 151
2010 46,834,789 0.120 56,202 155
2011 47,012,630 0.117 55,005 152
2012 47,354,900 0.114 53,985 149
2013 47,596,426 0.113 53,784 148
2014 47,790,126 0.110 52,569 145
2015 47,945,007 0.112 53,698 148
2016 48,255,424 0.109 52,598 145
2017 66,926,653 0.100 66,927 185
2018 66,946,794 0.098 65,608 181
2019 67,015,331 0.096 64,335 178
2020 67,172,688 0.098 65,829 182
2021 66,952,165 0.098 65,613 181
2022 66,993,371 0.097 64,984 179
2023 77,714,155 0.093 72,274 200
2024 84,992,499 0.093 79,043 218
2025 84,524,870 0.101 85,370 236
Conclusions
It is concluded that any production shortfalls will most likely be due to lower than planned mine production. Historically the maximum production shortfall has been around 3.5%. The concentrator has the capacity to process the planned production. Hence the maximum shortfall in tonnage to MVC should
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not be less than 3.5% below that planned (provided that there are no abnormal labour or environmental conditions). Such a shortfall will not significantly affect MVC’s production.
The rock mechanics problems in the production levels are known and the instrumentation installed should allow proper control of the geotechnical conditions. Therefore these conditions should not affect production.
The tonnages of tailings over the next 25 years could fall as much as 3.5% below the plan, based on historical performance. Although the tonnages of tailings as recorded by El Teniente and MVC differ, this is thought to be due to different measurement procedures and the difference will not significantly affect MVC’s production.
The grade (CuT) of the tailings should be according to plan over the next 25 years provided that El Teniente achieves its planned recovery of 89.48%. Based on historical data this is possible however, the average recovery over recent years has been 89.11%. The lower oxide content of the tailings compared to recent years will provide a small improvement in recovery in the MVC plant.
Table 10-7 shows the five year planned averages for tailings tonnages and grades based on the data provided by El Teniente.
Table 10-7 El Teniente Tailings Production 5-Year Averages to 2025
2006-2010 2011-2015 2016-2020 2021-2025Tonnage (million tpa)
46.4 47.5 63.3 76.2
% CuT 0.116 0.113 0.100 0.096
10.2 Colihues Tailings
The amended tailings supply agreement between MVC and El Teniente enables MVC to supplement its tailings supply with up to 45,000 tpd of material from the Colihues tailings deposit.
The Colihues tailings impoundment is located approximately one kilometre south of the MVC plant and has a surface area of approximately 650 ha. Production records indicate that over 216 million tonnes of El Teniente tailings were deposited between July 1977 and December 1988 (Budinich, 2002; Table 10-8). The annual records show that the copper values range between 0.229 to 0.297%CuT and average 0.263%CuT. Acid soluble copper values average 0.121%Cu. Molybdenum values average 0.01%Mo.
Note: In this report the terms “oxide copper” and “acid soluble copper” are used synonymously and refer to copper values assayed by a weak acid digestion technique. This method provides an approximation of the percentage of the non-sulphide or oxide copper present in a sample. The total copper assay of a sample is determined by a strong acid digestion technique. The sulphide copper content is approximated by taking the difference between the total copper assay and the weak acid soluble assay. In general terms sulphide copper minerals respond well to recovery by flotation while non-sulphide or oxide minerals do not.
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Figure 10-1 Photograph of the Colihues Tailings Deposit. View Looking to the East
Table 10-8 Annual Tailings Deposition Summary for Colihues Deposit*
Year
Annual Deposition
t
Cumulative Deposition
tCuT
%
CuSoluble
%Mo%
Started July 1997
1977 9,767,003 9,767,003 0.246 0.11 0.013
1978 19,538,624 29,305,627 0.229 0.11 0.012
1979 20,441,864 49,747,491 0.257 0.12 0.006
1980 20,320,355 70,067,846 0.275 0.12 0.009
1981 18,943,890 89,011,736 0.271 0.12 0.009
1982 22,453,713 111,465,449 0.297 0.13 0.010
1983 23,381,476 134,846,925 0.271 0.11 0.013
1984 23,764,923 158,611,848 0.251 0.12 0.012
1985 26,493,078 185,104,926 0.247 0.11 0.013
1986 31,383,984 216,488,910 0.270 0.14 0.014
216,488,910 0.263 0.12 0.011
* Based on metallurgical balances
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11.0 MINERAL PROCESSING
11.1 Current Process Description
The main objective of the Minera Valle Central (MVC) operations is to recover copper and molybdenum from fresh tailings and from tailings extracted from the Colihues dam.
The fresh tailings are extracted directly from the tailings launder of the El Teniente Division, CODELCO, Chile, by means of a gravitational system.
The extraction of tailings from the dam, in turn, is carried out by two different methods, depending if the source is the dry zone or wet zone.
Tailings in the dry zone are extracted by a hydraulic monitoring system using siphons, with water in high pressure water guns working at 30 bar. The flow of high pressure water hits the surface of the tailings in a sweeping motion in such a way as to create a ditch on the surface. The monitors work horizontally and vertically, operated by remote control using a hydraulic system of electronic valves that allow them to rotate and advance. The pulp drains to the center of the sump by gravity and is channelled by the ditches made by the monitor. It is then pumped forward to the main canal, by means of a booster pump, through a high density polyethylene (HDPE ) pipe.
The extraction from the wet zone is done using floating barges linked to dredge pumps. In this case, the suctioned pulp is transported by HDPE tubing to the main canal, and then by concrete launder to the processing plant. MVC is also testing a submersible to extract tailings from the wet zone.
The pulps originating from the Colihues dam and the fresh tailings from El Teniente, are mixed in the launder that feeds the main feed box upstream from the cyclones that classify the tailings prior to entering the flotation and grinding plant. The control of the pulp feeding the classification is done by gate valves with oleohydraulic guillotines commanded from a control panel.
At the grinding plant, a lime solution is fed, which is added to the mills to modify the pulp pH and to condition it to the flotation process.
At MVC there are two grinding plants, one which started towards the end of 1996 and the second towards the end of 2005. The oldest plant consists of primary and secondary classification, grinding (10,000 hp), conventional flotation and four flotation lines in cascades. The new plant has the same features, with a difference in capacity (13,500 hp) and with increments in the conventional flotation stage and an additional cascade line.
The hydrocyclone batteries consist of 5 hydrocyclones each, with a pressure of 1.7 kg/cm2. The primary
hydrocyclones separate fine particles on the top while coarser particles concentrate in the lower part. The fine product of the primary hydrocyclones is sent to the cascade flotation plant, while the coarse fraction is reprocessed to a second stage of classification (desliming) where the fine product is sent to cascades and the coarse product is fed to the crushing mills and subsequent flotation.
The collective floating circuit consists of a series of stages: rougher flotation, concentrate re-grinding and cleaning flotations in 4 stages.
The final concentrates, containing 30% Cu and 1% Mo, are pumped to the molybdenum separation plant.
The flotation in cascades is done in five lines with 37 cascades each. They work with a self-airing system, generating a concentrate collected in adjacent launders. The float product (pre-concentrate) is
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pumped to the rougher flotation stage, the tails of the cascades correspond to the final tailings of the plant and will be directed to the water recovery thickeners.
1
The projected tailing thickeners will recover water to condition the pulp to the solids concentration required by Division El Teniente (DET) for delivery to Carén. The recovered water will be used again in the process or will be sent to the Colihues dam.
The mixed concentrate Cu-Mo (0.8-1.2% of Mo and 28-32%Cu) is fed to the Cu-Mo thickener and its product feeds the molybdenite plant. The pulp pH must be conditioned to an approximate value of 8.5 with sulphuric acid and a copper depressant reagent Tiofos-mva, with a primarily phosphorous composition, is added.
The stages of selective flotation of this plant are set in countercurrent. The concentrate of a flotation stage (concentrate with molybdenum) is fed to the next stage while the tail is fed to the previous flotation stage, except in the primary flotation in which the tail corresponds to the final Cu concentrate and this is fed to the Cu thickener. The final Cu concentrate is filtered and dried before being sent to the smelter, and the water produced is deposited in settling ponds.
The molybdenite concentrate is leached with sulphuric acid to lower the phosphorus content remaining from the use of the copper depressant, in order to obtain a product of commercial quality.
The molybdenite concentrate, with a 48% Mo content, is separated from the water in a drum filter, and is dried in an oleoelectric kiln with indirect drying at 220°C to obtain a commercial product of low moisture. The molybdenite concentrate is packaged for dispatch as a final product in huge bags.
11.2 Plant Design and Condition
The plant is well laid out to take advantage of the natural topography and maximize gravity flow of pulp through the process. Access to equipment for maintenance is good and lifting capacity is provided by mobile cranes as there is no building over the main process facilities. This approach has been very successful.
The main process equipment was purchased second hand but is in good condition. The standards of maintenance and general cleanliness are also very good.
11.3 Current and Historical Plant Performance
In 1992 MVC commenced operation of a plant to recover copper from El Teniente tailings. The process then only recovered copper from the fine fraction of the tailings, using a cascade flotation system. In 1996 MVC built a grinding and flotation plant using conventional mechanical cells to recover copper from the coarse fraction of the tailings.
The historical performance of the MVC plant is shown in Table 11-1 and Figure 11-1.
1 Recuperation process authorized by RCA No. 151 COREMA VI Region, December 13, 2004.
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Table 11-1 Historical Results
Year Annual Production Fine Cu, t Fine Mo, t
1993 3,959
1994 6,338
1995 7,736
1996 7,847
1997 18,213
1998 13,975
1999 8,398
2000 10,361
2001 10,032
2002 10,651
2003 11,999
2004 14,117
2005 13,552 286.60
Figure 11-1 shows great variability in the recovery. The most dramatic changes are due to modifications to the recovery circuit. For example, the increase in recovery seen early in 1997 is due to the addition of the scalping cyclones and grinding circuit to treat the coarse fraction, in addition to the cascades for copper recovery from the fine fraction.
The MVC plant recovery is also influenced by the total copper content and distribution of copper between oxide and sulphide species in the El Teniente tailings.
Starting in 1998 problems in the El Teniente mine reduced the feed to the El Teniente concentrators. This resulted in a finer grind and hence better recovery at the El Teniente concentrators and, therefore, lower tailings grade fed to the MVC plant.
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Figure 11-1 Historical Monthly Performance, 1992 to 2005 (Source : MVC)
0
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5.000
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Cu in (El Teniente Tailings+Colihues Tailings) Cu in Concentrate Global Copper Recovery
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12.0 MARKET AND CONTRACTS
12.1 Tailings Supply Contract
The El Teniente tailings are processed by MVC pursuant to a contract originally completed in 1991, and amended in 1996, 2002 and 2004. MVC currently has 15 years remaining on its tailings supply contract with El Teniente. Pursuant to the amendment made in 2004, MVC has also negotiated a supplementary source of higher grade tailings from the Colihues tailings impoundment which could be treated at up to 45,000 tpd.
Fresh tailings tonnage and contained copper, according to the contract between MVC and El Teniente, as amended, are shown in Figure 12-1.
Figure 12-1 Future %CuT and Tons of Copper Projection Year
The tailings projections from DET (Division El Teniente) for the next twenty years shows a constant decline in the copper grade from 2010; however, as of 2017, there is a significant increase in fine copper due primarily to the increase in tailings to 66.9 million tonnes, with projections for tailings to increase to close to 84.5 million tonnes by 2025.
CODELCO El Teniente has agreed to provide a total of 1,063,480 fmt of copper for the period from January 1, 2001 to December 31, 2021. If the total copper content over the period falls below that amount by more than 10%, the term of the contract shall be extended by the proportion corresponding to the fine copper deficit exceeding such 10%. Otherwise, the contract terminates on December 31, 2021.
A royalty is payable if the price of copper exceeds US$0.80 per pound as outlined in Section 4.1.
0
25
50
75
100
125
150
175
200
225
250
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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ve G
ener
ado
(tpd)
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%Cu
Tot
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12.2 Concentrate Smelting and Refining Contract
Copper
MVC currently sells all of its copper concentrate production to CODELCO’s Las Ventanas smelter in Chile (approximately 250 km away). A contract (CODELCO contract CLP05-CF-05-08) was signed by CODELCO and MVC on 15 December, 2004.
The contract is a typical CODELCO contract for small/medium producers. Charges are levied for concentrate treated and for contained impurities, payment is made for recovered metal. In December of 2005, MVC and CODELCO agreed upon terms for the 2006 contract, but those terms have not yet been committed to writing.
Molybdenum
MVC and Molibdenos y Metales S.A. (“Molymet”) have entered into a sales agreement dated January 1, 2005 for a term of 3 years pursuant to which MVC sells its molybdenum concentrate to Molymet.
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13.0 ENVIRONMENTAL AND PERMITS
13.1 Description of Environmental Management in MVC
From the beginning of 2004 MVC started to adapt its actions to the IS0 14001-2004: ”Environmental Management Systems, Specifications and Guidelines”, complying with their environmental policies that are detailed as follows:
“At MVC, the protection of the environment is one of our main priorities and we are working to have this present in each of processes at MVC. This is why we commit ourselves to sustainable development following the principles outlined below:
To comply with applicable legislation and voluntary commitments subscribed on this matter, collaborating with the authorities in developing applicable regulations.
To identify, evaluate and control environmental impact brought on by the different activities.
To eliminate or reduce the creation of residues, taking measures preferably at their point of origin, procuring their recycling and re-use and the environmentally safe disposal of final waste.
To induce in their workers, providers and associates a responsible attitude in environmental matters and in occupational safety and health, through training and the creation of receptiveness to these matters.
To maintain reliable, clear and timely communication and information with their employees, providers, associates, authorities, the community and other interested parties.
To establish effective mechanisms of control of operations, of performance evaluation and of preparation and response to potential accidents, emergency situations and unforeseen circumstances.
To consider the use of clean technologies and criteria of environmental projection, occupational safety and health in their processes in all new projects or businesses from the design stage on.
To spread the principles of the current policies among their providers and subcontractors.”
13.2 Identification of Environmental Issues
The identification of environmental issues is carried out taking into account the current or past processes, products and services. During the identification of the environmental issues of MVC, operations under normal, abnormal and emergency conditions are taken into account.
The environmental aspects are analyzed by a committee comprised of the Engineering Manager, the Operations Manager and environmental advisors who evaluate their frequency, magnitude, severity, risk and cost in relation to lessening the impact. Afterwards the degree of significance is determined by reference to legal requirements and determining its environmental impact.
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At present, the following environmental issues have been identified:
Nº Environmental IssueAssociated Environmental Impact
1 Gas and Noise Emissions Atmospheric Contamination
2 PM10 Emission Atmospheric Contamination
3 Dangerous Substances Spill risks
4 Storage and Distribution of Fuels Spill risks
5 RIS Generation of Solid Industrial Residues
Visual and Hillside Contamination
6 Sewage production Odours
The following preventive and corrective measures are being applied:
Gas, PM10 and Odour Emissions
Monitoring
Previous environmental monitoring of gas and particulate
Monitoring of weather variables
Isokinetic measurements at the Molybdenum plant stack for H2S and SO2
PM10 measurement plan
To apply measures at point of source
DANGEROUS SUBSTANCES AND DISTRIBUTION AND STORAGE OF FUELS
To apply safety techniques: color codes for piping in unloading and transport facilities; safety signs
Operational procedures applicable to unloading and driving
Training
Normalization of permits
CREATION OF SOLID INDUSTRIAL WASTE
System to create solid industrial waste
Solid waste management from occurrence to final disposal
Permits to store solid industrial waste
The Ministry of Health of Region Vl approved the management plan for Dangerous Residues presented on December 13, 2004.
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Training
SEWAGE
Install a biological treatment plant
13.3 Legal and Other Requirements
This procedure identifies the legal and other requirements related to the environmental issues at MVC. An updated data base is available of the Ministry of Mining Rules and Regulations as well as of other local environmental authorities and of relevant international conventions.
MVC operates within the specifications and guidelines established by the Ministry of Mining, other local environmental authorities and relevant international conventions.
From 1994 to date the following permits have been obtained:
SUMMARY OF RESOLUTIONS MVC - S.A
Ord. n° Permit Title Date Emanating Office
750 Change of soil use (12.4 has) 21-Dec-94 Ministry of Agriculture
38 Change of soil use (4.75 has) 21-Jan-97 Ministry of Agriculture
2160 Industrial Category 10-Sep-03 Public Health
Services
457Environmental Impact Document” Modification in the use of reagents”
30-Jul-02
National Confederation of the Environment
(CONAMA)
543 DIA Project “Modifications in the use of reagents” 02-Sep-02 CONAMA
664 DIA Project “Modifications in reagent consumption” 25-Oct-02 CONAMA
124Declaration that informs favourably the project for modification in the use of reagents
29-Oct-02 CONAMA
21Declaration that informs favourably the project for processing of Colihues Dam tailings
18-Feb-03 CONAMA
1723Approval of the normalization projects for MVC tailings treatment plant and processing of Colihues Dam tailings
02-Jun-03 SERNAGEOMIN
1212Normalization project for Tailings treatment plant at MVC
04-Jun-03 SERNAGEOMIN
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SUMMARY OF RESOLUTIONS MVC - S.A
Ord. n° Permit Title Date Emanating Office
151Environmental qualification of project “Recovery of Molybdenum from Bulk concentrates at MVC”
13-Dec-03 CONAMA
929Proposal for the modification of project “ Processing of Colihues Dam tailings”
15-Dec-04 CONAMA
34Presentation of the plan for Handling of dangerous residues. Plan accepted
09-Jan-06 Ministry of Health
Presentation of the Environmental Impact Declaration for the project “Industrial Water Recovery from MVC tailings”. Matter still pending
21-Dec-06 CONAMA
In addition, four forestry management plans have been submitted:
1. In 1996, as required for the construction of the grinding plant, a plan was approved by CONAF.
2. On January 10, 2006 when the fifth line of flotation cascades needed to be built, a plan was approved by CONAF.
3. A plan was approved on January 13, 2006 for an unauthorized cut.
4. In February 2006, the management plan was presented to obtain approval for the Environmental Impact Document for the project “Water recovery project from MVC tailings”. The resolution is pending.
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14.0 TAXES
The following taxes are generally applicable to a mining company in Chile.
Tax on Corporate Profits
Any company in Chile (mining or otherwise) that is not entitled to special tax treatment authorized by the Government must pay tax at 17% of its profit. Dividends are taxed at source to bring the total level of tax to 35%. Dividend tax is applicable equally to dividends paid in Chile or those remitted to a foreign country.
Foreign Services Tax
Services provided to a Chilean company either within or outside Chile, that must be paid outside Chile, are subject to 35% tax. Engineering or technical services are subject to a lower tax of 20%. To reimburse a foreign company in full for its services, the invoice must therefore be grossed up by 25%. This tax does not apply to services provided from countries that have a tax treaty with Chile e.g. Canada, Argentina and Mexico.
Value Added Tax (IVA)
This tax is applied at 19% to good and services provided by companies within Chile. Companies can effectively deduct this tax from their sales related to these same goods and services.
Import Duties
Import duties are levied at 6% of the value of goods. No duty is applied to goods from Canada or Mexico. For goods from MERCOSUR countries, duties are applied at 0 to 4% depending on the country.
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15.0 OPERATING COSTS
15.1 Current Operating Costs
Table 15-1 contains a summary of the costs of MVC’s operations during the past five years, including plant costs, costs associated with Enami, marketing and for the El Teniente royalty. Also included are the results from the production of molybdenum concentrate starting in April 2005, which result in credits to the plant’s financial position. An analysis of the molybdenum credits is contained in Table 15-2.
MVC pays royalties to El Teniente for the right to treat the tailings. The royalty payable is calculated on a complex sliding scale that depends on the grade of the tailings received from El Teniente and the prevailing LME price of copper. Please refer to Section 4.1 Property Description and Location for a detailed description of the royalties.
No royalty was paid to El Teniente after the month of May 2001 because the LME price fell below and stayed below the threshold where a payment is required according to the contract. Royalties were reinstated in 2003 when copper prices recovered from historical lows.
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Table 15-1 Average Operating Costs for 2001-2005
ITEM 2001 Average 2002 Average 2003 Average 2004 Average 2005 Average
US$/mo cUS/lb US$/mo cUS/lb US$/mo cUS/lb US$/mo cUS/lb US$/mo cUS/lb
Labour 135,111 7.4 128,295 6.6 134,310 6.1 175,891 6.8 235,426 9.5
Power 320,020 17.5 286,633 14.6 292,457 13.3 391,658 15.0 454,152 18.2
Lime 21,889 1.2 25,271 1.3 28,247 1.3 32,243 1.2 42,164 1.7
Reagents 49,344 2.7 41,444 2.1 36,628 1.7 57,182 2.2 64,220 2.6
Grinding Balls 158,932 8.7 151,763 7.8 151,341 6.9 183,459 7.0 244,072 9.8
Maintainance and Spares 61,982 3.4 71,627 3.7 93,320 4.2 124,804 4.8 280,178 11.3
Process Control 25,442 1.4 25,442 1.3 32,295 1.5 33,298 1.3 36,250 1.5
Subcontracts 16,796 0.9 16,942 0.9 24,556 1.1 68,703 2.6 100,142 4.0
Mechanical Equipment 10,029 0.5 9,328 0.5 8,073 0.4 11,163 0.4 16,302 0.7
Fuel 9,395 0.5 10,400 0.5 12,976 0.6 20,530 0.8 33,828 1.4
Other 13,630 0.7 16,688 0.9 11,034 0.5 53,349 2.0 55,144 2.2
Industrial Water 8,579 0.5 7,417 0.4 8,111 0.4 5,574 0.2 5,577 0.2
Dredging - - - - 4,724 0.2 40,163 1.5 53,951 2.2
Total Plant Cost 831,149 45.4 791,250 40.6 838,072 38.2 1,198,017 45.8 1,621,406 65.3
Credit for Moly 0 0.0 0 0.0 0 0.0 0 0.0 -870,163 -35.0
Credit for Tolling Fee 0 0.0 0 0.0 0 0.0 0 0.0 -195,924 -7.9
Plant Cost after Credit for Moly 831,149 45.4 791,250 40.6 838,072 38.2 1,198,017 45.8 555,319 22.4
ENAMI (excluding smelter deduction) 389,431 21.2 399,661 20.4 406,470 18.4 461,280 17.7 940,521 37.8
marketing and Transportation 34,883 1.9 36,523 1.9 42,803 1.9 49,466 1.9 55,944 2.2
Royalties to El Teniente 10,903 0.6 0 0.0 52,655 2.4 397,584 15.3 703,155 28.2
Cost To Cathode 1,266,366 69.1 1,227,434 62.9 1,340,000 60.9 2,106,347 80.7 2,254,939 90.6
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Table 15-2 Moly Credit Analysis
MOLYBDENUM CREDIT ANALYSIS (US$)
RECEIPTS TOTAL Monthly Average
Invoice Sales 16,832,041 1,402,670
Settlement Adjustments -2,736,742 -228,062
TOTAL RECEIPTS 14,095,299 1,174,608
COSTS
Labour 293,097 24,425
Raw Materials 3,089,089 257,424
Process Controls 5,219 435
Subcontractors 184,744 15,395
Other 81,193 6,766
TOTAL COSTS 3,653,342 304,445
MOLYBDENUM CREDITS 10,441,957 870,163
Molybdenum receipts and costs have been averaged over the full 2005 year, but costs were effective from March 2005 and sales from April 2005.
15.2 Operating Costs for Potential Improvement Projects
The major component of the planned improvement projects for the foreseeable future will be the thickeners, referred to in the table in 16.1 as "Industrial water recovery system", which are being installed to ensure compliance with new environmental regulations scheduled to take effect in September, 2006. These thickeners have the added advantage of allowing MVC to extract water from the concentrate which can be reused in operations, and effectively provides insurance in case of a drought in the future.
The total spent to date on thickeners has been approximately $2.2 million, with another $8.7 million necessary during 2006 for a total of $10.9 million.
In addition, planned capital expenditures in 2006 include another $1.3 million on the processing plant.
Finally, phase 1 of the implementation of the monitoring system will cost a total of approximately $400,000. Phases 2 and 3, which will bring MVC up to 4 monitors, will cost another $2.5 million. MVC may also consider adding 2 more monitors in 2007 at an additional cost of approximately $1.6 million.
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16.0 CAPITAL COST
16.1 Current Position
Summary of investments to date (2005) and operational improvements considered during 2006 and 2007.
Distribution of Cash Flow Investment Projects
Cash Flow Distribution re Investment Projects (US$)
2004- 2005 2006 2007
Increase in flotation
i227,330
Capacity in columnar cells 370,672
Copper Expansion project 23,684,629 1,290,000
Drainage systems in process 210,000
Moly Plant 4,172,760
Submersible miner project 1,250,000 250,000
Fraser Alexander Hydraulic Monitors
Phase 1 925,799 396,771 Phase 2 & Phase 3 2,505,000 1,570,000
Industrial water recovery system 2,200,000 8,498,009
Plant Modifications Moly 200,000 200,000 Copper 800,000
SubTotal 32,433,188 14,149,780 1,570,000
Shell Replacement Grinding Mills 420,000 Engineering Studies and Environmental Projects 200,000 TOTAL 32,433,188 14,349,780 1,990,000
Notes:
Payments re 2004 Expansion Project 4,464,137 2004 Payments re Molybdenum Plant 2,287,000
6,751,137
2005 Investments 25,682,051
Total Moly Plant 4,172,760 Moly Plant 2004 2,287,000 Moly Plant 2005 1,885,760
An industrial water recovery system is being added in 2006 to comply with new Chilean environmental regulations scheduled to come into force in September, 2006.
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17.0 CONCLUSIONS AND RECOMMENDATIONS
MVC has 15 years remaining on its tailings supply contract with El Teniente. During the next 25 years El Teniente expects to produce 1,139 million tonnes of tailings at an average grade of 0.112% total copper and 0.03% soluble copper. The authors recommend discouting this forecast by 3.5% based on El Teniente’s past tailings supply to MVC. While the grade of copper in the fresh tailings is expected to fall during the remaining contract period, this potential shortfall is made up for by the increased volume of tailings produced.
It is expected that MVC’s production of copper in concentrates will increase to a total of 30,000 tons per annum by the end of 2007. This production increase will be achieved mainly through the increased extraction rate ( from 10,000 tpd to 45,000 tpd) from the Colihues tailings dam. The inferred mineral resource of 213,697,056 tonnes grading 0.262% Cu and 0.01% Mo is more than sufficient to support the proposed production increase.
The following work is recommended in order to upgrade the classification of mineral resource:
1. Perform more sampling of the tailings dam, especially in the north central portion of the dam and to the west of the island to verify the grade over a larger area. This may be done by airlift sampling of submerged tailings and by pitting of exposed tailings, as was done on the northeast section.
2. Implement a quality assurance/quality control program at the start of the sampling program, which program should include the routine submission of standards, duplicates and blanks to the on-site laboratory, as well as checks by a second laboratory.
3. During the sampling program samples should also be taken for the determination of density to check the density distribution within the tailings dam.
The following recommendations are aimed at improving the quantity and efficiency of copper and molybdenum production at MVC:
1. Evaluate technical and economic feasibility of alternative methods for extracting tailings from the Colihues Dam, and select the best applicable combination.
2. Assess environmental impact of each tailings extraction method, in order to maintain general plant operation efficiency and effluent quality within acceptable emission levels.
3. Maintain as a permanent activity the goal of optimizing metallurgical processes, with the idea of achieving the most efficient and economical methods for recovery of Copper and Molybdenum at the MVC plant.
4. Complete during 2006 the construction of two thickeners for the recovery of industrial water from the MVC plant tailings, thus making the operation independent of natural precipitation, and keeping the volume of effluents within the contract requirements.
March 2006
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18.0 REFERENCES
Budinich B., N., 2002, Informacion Solicitada para “Due Diligence” Letter to Sr. Juan Manuel Torres Lopez, Gerente General, Minera Valle Central. 26 February, 2002.
Dold, B. and Fontboté L., 2001: Element cycling and secondary mineralogy in porphyry copper tailings as a function of climate, primary mineralogy, and mineral processing. Journal of Geochemical Exploration Volume 74 (2001), pages 3 to 55.
Fuerza Aérea de Chile Servicio Aerofotogrametrico, 1997: Photograph 103/239 Geotec 1:50,000 S31 El Palomo L02 SAF 97 No. 004787 taken on February 25, 1997.
Gutiérrez C., G., 1983: Informe Anual Departamento Concentrador, Internal Memorandum of the General Superintendent of the Concentrator Department, Division El Teniente, Corporacion Nacional del Cobre de Chile, January 31, 1983, 71 pages.
Gutiérrez C., G., 1992: 20.3.8 Case Studies, 20.3.8.1 El Teniente Mine, CODELCO, Rancagua, Chile. SME Mining Engineering Handbook, 2nd Edition, Howard L. Hartman, Senior Editor, Pages 1826-1830.
Hodgson, S., Lacombe, P., Maycock, A., Reddy, D., 2002, Technical Review of Operations at Minera Valle Central Rancagua, Region VI, Chile. Unpublished internal technical report for Atna Resources Ltd., April 2002, 81p.
Henriquez U., L., 2002: Deposito Embalse Colihues; unpublished email from Luis Henriques Urzúa, El Teniente to Raul Poblete, Minera Valle Central, 2 pages.
Mendina, C., 2005, Batimetria laguna de clarificacion y levantamiento contorno y playa de relaves tranque de relaves Colihues Division El Teniente CODELCO Chile. Rep-059-2032-C-001 Rev.B., Golder Associates and Rahco International, Sepiembre de 2005.
Minera Valle Central, 2002: Website www.mvc-sa.cl with 7 pages of html format content regarding the company and operation.
Project Description, 1995. Antecedentes Proyecto Tratamiento de Gruesos submitted to CONAMA VI Region dated 26 October,1995.
Skewes, M.A., Arevalo, A., Floody, R., Zuniga, P.H., Stern, C.R., 2005, The El Teniente Megabreccia Deposits, the worlds largest copper deposit. In. Porter, T.M. (ed) 2005 Super Porphyry copper and Gold deposits – A global Perspective. PGC Publishing, Adelaide, v. 1., p. 83-113.
Internal memo to Raul Poblete from Christian Caceres, Sistema de Evaluacion de Impacto Ambiental, dated 13 February, 2002.
Autoriza cambio de uso de suelos de parte del predio denomindao hacienda Laguna de Cuaquenes de la comuna de Requinoa, rol de avaluo No. 38-7, de propiedad de CODELCO, Division El Teniente, dated 21 December, 1994. Change of land use for MVC plant area.
Letter from El Teniente to MVC PE-017/01 dated 22 January, 2001, Denuncia Incidente Ambiental.
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Letter from MVC to El Teniente MVC-IP-001/2001 dated 24 January, 2001, response to PE-017/01.
Internal MVC document produced by Manuel Cartagenas, “Proyectos MVC que aumentan la capacidad de producción actual”, email to Anthony Maycock, 8 April, 2003.
MVC production data, 2002, email Manuel Cartagenas to Anthony Maycock, dated 18 March 2003.
MVC flowsheet, email Manuel Cartagenas to Anthony Maycock, dated 18 March, 2003.
El Teniente presentation material, production tonnes and grades, 8 April 2003.
Alfred H. Knight assay laboratory protocols, email Manuel Cartagenas to Anthony Maycock dated 20 May, 2003.
March 2006
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LIST OF FIGURES
Figures Description
4-1 Location of the Minera Valle Central Operation
4-2 Aerial Photograph of the MVC Site Showing Location of Offices, Process Plant and Colihues Tailings Deposit
4-3 Photograph of the MVC Plant, Cascade System and Offices
5-1 View of Northern Portion of the Colihues Tailings Dam
9-1 Northern Edge of Colihues Tailings Dam Showing Wall A and Dredge Pumps
9-2 Hydraulic Monitor Operating at Colihues Tailings Dam
9-3 Comparison of Grades between Sampling, MVC Production and Historical Records
9-4 Scatterplot of Check Assays Compared to Original Assays for MVC Production from Colihues Tailings
10-1 Photograph of the Colihues Tailings Deposit. View Looking to the East
11-1 Historical Monthly Performance, 1992 to 2005 (Source: MVC)
12-1 Future % CuT and Tons of Copper Projection Year
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LIST OF TABLES
Tables Description
4-1 Seasonal Temperatures in Degrees Centigrade
4-2 Precipitation in mm
5-1 Granulometric and Assay Results for Samples from Colihues Tailings (Hodgson et al., 2002)
9-1 Summary of Tailings Produced at El Teniente and Fed into the Colihues Tailings Dam During the Period July 1977 to December 1986
9-2 Summary of Tailings Produced During the Period 1977 to 1982 from Gutierrez, 1983
9-3 Monthly Summary of Tailings Produced During the Year 1982 from Gutierrez, 1983
9-4 Summary of MVC’s Monthly Production from Colihues Tailings Dam
9-5 Assay Results for MVC August 2001 Sampling Program
9-6 Assay Results for MVC October 2001 Airlift Sampling Program
9-7 Assay Results for AMEC 2002 Sampling Program
9-8 Comparison of Average Copper and Molybdenum Values between the Four Sampling Programs, CODELCO’s Historical Records and MVC’s Production Record
9-9 Results of Check Assays from MVC Production Samples from Colihues Tailings Dam
10-1 El Teniente Mine Production Variation Actual vs. Planned
10-2 Grades and Tonnages of Fresh Tailings Projected by El Teniente
10-3 El Teniente Recent Tailings Deliveries
10-4 El Teniente Production Plan to 2025
10-5 Tonnage and Grade Differences for Tailings Received by MVC
10-6 El Teniente Planned Tailings Production to 2025
10-7 El Teniente Tailings Production 5-Year Averages to 2025
10-8 Annual Tailings Deposition Summary for Colihues Deposit
11-1 Historical Results
15-1 Average Operating Costs for 2001-2005
15-2 Moly Credit Analysis
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APPENDIX ACERTIFICATES OF AUTHOR AND QUALIFIED PERSON
March 2006
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CERTIFICATE OF AUTHOR
I, Raúl Poblete de la Cerda, P.Eng., currently resident at Latadia 4550, Las Condes, in the city of Santiago, in the country of Chile, certify that:
1. I am a practicing engineer with an M.Sc in Mineral Engineering (1964) from Columbia University in New York City, New York.
2. I have practiced my profession as an engineer for more than 40 years and have experience relevant to the topic of the technical report.
3. I am a Member of the Instituto de Ingenieros de Minas de Chile.
4. I have authored all but Sections 5.0 and 9.0 and associated appendices of the technical report titled “Technical Review of Operations at Minera Valle Central” and dated March 11, 2006 (the “Technical Report”) relating to the Minera Valle Central operations of Amerigo Resources Ltd. (“Amerigo”).
5. I am currently employed as the General Manager of Minera Valle Central, S.A. and work at the MVC site. I have held positions of increasing responsibility with Rio Tinto, COCELCO and now with MVC during the course of my career. My career accomplishments include:
(a) Chief Metallurgist, Operations Manager and Concentrate Superintendent, CODELCO El Teniente division;
(b) Copper Concentrate Superintendent, Rio Tinto, Spain;
(c) Operations Manager, CODELCO Andina division;
(d) Technical Manager, CODELCO Central Office;
(e) General Manager, CODELCO El Salvador division;
(f) Headed technical group of engineers that studied, bid on and obtained the 25-year concession MVC has for the exploitation of El Teniente's tailings; and
(g) Directed engineering, procurement and construction of MVC's 20 million dollar plant expansion and the construction of the 4 million dollar molybdenum recovery plant.
6. As of the date of this certificate, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.
7. I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication of the Technical Report by them for regulatory purposes, including electronic publication in the public company files on their websites accessible by the public.
Dated March 11, 2006.
(signed) Raúl Poblete de la Cerda
_________________________________ Raúl Poblete de la Cerda
March 2006
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CERTIFICATE of QUALIFIED PERSON Roger Moss
Moss Exploration Services 326 Rusholme Rd., Toronto, ON. M6H 2Z5
Tel: 416-516-6050 Fax: 416-516-7036 Email: [email protected]
I, Roger Moss, P.Geo. do hereby certify that:
1. I am President of Moss Exploration Services, 326 Rusholme Rd., Toronto, ON. M6H 2Z5
2. I graduated with a Ph.D. degree in Geology from the University of Toronto in 2000. In addition, I have obtained a M.Sc. degree in Geology from the University of Toronto in 1995 and a B.Sc. in Geology from the University of the Witwatersrand in 1988.
3. I am a member in good standing of the Association of Professional Geoscientists of Ontario (Registration Number 0192), the Canadian Institute of Mining, Metallurgy and Petroleum, and of the Society of Economic Geologists.
4. I have worked as a geologist in the mineral exploration industry for a total of eight years since my graduation from university including working for Anglo American Prospecting Services, Echo Bay Mines, A.C.A. Howe International and Minnova Inc. As president of Moss Exploration Services during the last 10 years I have worked for clients on project generation and exploration for porphyry copper-gold and VMS deposits and evaluated gold and copper projects. In recent years I have acted as President and Vice President, Exploration of Amerigo Resources Ltd., and currently act as President of Nikos Explorations Ltd.
5. Based on these qualifications and experience, I am a “Qualified Person” for purposes of National Instrument 43-101.
6. I have supervised the preparation of the technical report titled “Technical Review of Operations at Minera Valle Central” and dated 11 March, 2006 (the "Technical Report") relating to the Minera Valle Central Operations of Amerigo Resources Ltd. (“Amerigo”) and, relying on the experience of co-author Mr. Poblete de la Cerda as outlined in Section 3, accept responsibility for the contents of the report. I last visited Minera Valle Central Operations on 7 March, 2006 for 3 days.
7. I have not had any prior involvement with the property that is the subject of the Technical Report.
8. As of the date hereof, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.
9. I am not independent of Amerigo Resources Ltd. applying all of the tests in section 3.5 (1) of Companion Policy 43-101CP to National Instrument 43-101, since I hold securities of the Issuer..
10. I have read National Instrument 43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with that instrument and form.
11. I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication of the Technical Report by them for regulatory purposes, including electronic publication in the public company files on their websites accessible by the public.
Dated this 11th day of March, 2006.
(signed) Roger Moss
Roger Moss, Ph.D., P.Geo.
March 2006
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APPENDIX B MINERA VALLE CENTRAL MONTHLY PRODUCTION FROM COLIHUES TAILINGS DAM
AUGUST 2003 TO FEBRUARY 2006
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2003 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
August 36101 0.317 114 0.068 25
01-Aug 3405 0.330 11.22 0.065 2.23
02-Aug 2603 0.331 8.60 0.061 1.59
03-Aug 2830 0.320 9.05 0.075 2.12
04-Aug 2550 0.328 8.36 0.060 1.54
05-Aug 1846 0.347 6.40 0.065 1.20
06-Aug 1105 0.319 3.53 0.071 0.79
07-Aug 1745 0.326 5.69 0.055 0.97
08-Aug 2251 0.315 7.09 0.060 1.36
09-Aug 2342 0.323 7.58 0.065 1.51
10-Aug 960 0.291 2.79 0.069 0.66
11-Aug 2246 0.317 7.12 0.075 1.68
12-Aug 1795 0.315 5.66 0.086 1.54
13-Aug 1816 0.305 5.54 0.077 1.40
14-Aug 305 0.296 0.90 0.092 0.28
15-Aug
16-Aug
17-Aug
18-Aug
19-Aug
20-Aug
21-Aug
22-Aug
23-Aug
24-Aug
25-Aug
26-Aug 99 0.326 0.32 0.063 0.06
27-Aug 380 0.293 1.11 0.066 0.25
28-Aug 2302 0.318 7.32 0.062 1.42
29-Aug 2412 0.307 7.39 0.070 1.69
30-Aug 1534 0.283 4.34 0.078 1.20
31-Aug 1575 0.281 4.43 0.077 1.21
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2003 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
September 33812 0.269 91 0.062 21
01-Sep 3147 0.296 9.31 0.064 2.03
02-Sep 299 0.280 0.84 0.083 0.25
03-Sep 1304 0.283 3.69 0.082 1.08
04-Sep 1353 0.281 3.80 0.063 0.86
05-Sep 2400 0.255 6.11 0.056 1.35
06-Sep 1889 0.285 5.38 0.062 1.18
07-Sep 1586 0.259 4.11 0.063 1.00
08-Sep 605 0.277 1.68 0.059 0.36
09-Sep 1742 0.276 4.80 0.071 1.24
10-Sep 1550 0.329 5.10 0.063 0.98
11-Sep 849 0.336 2.85 0.058 0.49
12-Sep 985 0.260 2.56 0.072 0.71
13-Sep 1615 0.248 4.00 0.060 0.97
14-Sep 1468 0.251 3.68 0.056 0.82
15-Sep 964 0.263 2.54 0.071 0.69
16-Sep 801 0.255 2.04 0.054 0.43
17-Sep 1355 0.271 3.66 0.070 0.94
18-Sep 340 0.284 0.96 0.066 0.22
19-Sep
20-Sep 525 0.284 1.49 0.049 0.26
21-Sep 1318 0.285 3.76 0.077 1.02
22-Sep 857 0.257 2.21 0.069 0.59
23-Sep 1488 0.248 3.69 0.059 0.87
24-Sep 1592 0.230 3.66 0.054 0.86
25-Sep 1363 0.268 3.66 0.046 0.63
26-Sep 1749 0.222 3.88 0.053 0.93
27-Sep 667 0.226 1.51 0.050 0.33
28-Sep
29-Sep
30-Sep
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2003 Tonnes % CuT Contained CuT %CuOx Contained
CuOx
October 47026 0.299 141 0.081 38
01-Oct
02-Oct
03-Oct
04-Oct
05-Oct 899 0.313 2.81 0.064 0.58
06-Oct 801 0.320 2.57 0.091 0.73
07-Oct 1616 0.321 5.19 0.061 0.98
08-Oct 3613 0.325 11.73 0.076 2.76
09-Oct 2120 0.312 6.62 0.068 1.44
10-Oct 2561 0.319 8.17 0.085 2.18
11-Oct 2272 0.290 6.59 0.090 2.04
12-Oct 2205 0.292 6.44 0.090 1.99
13-Oct 1011 0.314 3.17 0.079 0.80
14-Oct 1566 0.306 4.79 0.233 3.65
15-Oct 2423 0.334 8.10 0.056 1.37
16-Oct 1597 0.286 4.56 0.066 1.05
17-Oct 1876 0.275 5.15 0.085 1.60
18-Oct 1967 0.293 5.77 0.084 1.66
19-Oct 2128 0.282 6.00 0.075 1.61
20-Oct 1106 0.281 3.11 0.074 0.82
21-Oct 484 0.263 1.27 0.077 0.37
22-Oct 1345 0.270 3.63 0.071 0.95
23-Oct 1452 0.290 4.21 0.085 1.23
24-Oct 2113 0.306 6.47 0.073 1.54
25-Oct 2590 0.271 7.01 0.065 1.69
26-Oct 2011 0.277 5.58 0.069 1.39
27-Oct 1487 0.306 4.55 0.059 0.88
28-Oct 1714 0.294 5.04 0.075 1.29
29-Oct 821 0.296 2.43 0.094 0.77
30-Oct 1215 0.307 3.72 0.100 1.21
31-Oct 2034 0.291 5.92 0.080 1.63
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2003 Tonnes % CuT Contained CuT %CuOx Contained
CuOx
November 54855 0.312 171 0.081 44
01-Nov 1659 0.281 4.67 0.089 1.48
02-Nov 2509 0.353 8.86 0.067 1.67
03-Nov 1190 0.304 3.62 0.101 1.20
04-Nov 1693 0.293 4.96 0.091 1.54
05-Nov 1762 0.292 5.15 0.092 1.62
06-Nov 805 0.309 2.49 0.062 0.50
07-Nov 1589 0.333 5.29 0.069 1.09
08-Nov 1513 0.290 4.39 0.091 1.38
09-Nov 1748 0.314 5.48 0.067 1.17
10-Nov 0
11-Nov 0
12-Nov 591 0.354 2.09 0.069 0.41
13-Nov 2537 0.335 8.50 0.088 2.24
14-Nov 2354 0.314 7.39 0.074 1.75
15-Nov 3169 0.328 10.39 0.071 2.25
16-Nov 2352 0.315 7.42 0.079 1.85
17-Nov 1483 0.301 4.47 0.073 1.08
18-Nov 1526 0.289 4.41 0.089 1.36
19-Nov 2718 0.333 9.06 0.076 2.07
20-Nov 2893 0.328 9.47 0.074 2.14
21-Nov 3028 0.314 9.51 0.076 2.31
22-Nov 2192 0.292 6.40 0.082 1.79
23-Nov 1914 0.298 5.69 0.086 1.64
24-Nov 1699 0.322 5.47 0.085 1.44
25-Nov 1984 0.311 6.17 0.092 1.83
26-Nov 1995 0.295 5.88 0.085 1.70
27-Nov 2922 0.293 8.55 0.077 2.24
28-Nov 2446 0.311 7.61 0.086 2.09
29-Nov 1305 0.300 3.92 0.088 1.15
30-Nov 1279 0.315 4.04 0.099 1.27
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2003 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
December 75035 0.304 228 0.08 60
01-Dec 3155 0.331 10.44 0.083 2.62
02-Dec 2654 0.314 8.33 0.075 2.00
03-Dec 2900 0.287 8.32 0.069 2.01
04-Dec 2115 0.327 6.91 0.067 1.43
05-Dec 2340 0.323 7.56 0.090 2.10
06-Dec 2088 0.292 6.09 0.097 2.02
07-Dec 3731 0.291 10.85 0.080 2.97
08-Dec 1851 0.302 5.60 0.093 1.72
09-Dec 1538 0.285 4.38 0.083 1.28
10-Dec 2712 0.300 8.12 0.073 1.97
11-Dec 3603 0.306 11.04 0.069 2.48
12-Dec 2381 0.293 6.97 0.085 2.03
13-Dec 2721 0.308 8.38 0.062 1.68
14-Dec 3071 0.317 9.73 0.079 2.42
15-Dec 3818 0.297 11.33 0.076 2.90
16-Dec 2400 0.314 7.53 0.095 2.29
17-Dec 3009 0.313 9.43 0.088 2.66
18-Dec 2127 0.297 6.32 0.088 1.86
19-Dec 2423 0.311 7.53 0.087 2.11
20-Dec 2093 0.309 6.46 0.091 1.90
21-Dec 3361 0.322 10.82 0.076 2.56
22-Dec 2165 0.301 6.51 0.073 1.58
23-Dec 3329 0.310 10.32 0.078 2.61
24-Dec 2286 0.308 7.05 0.068 1.56
25-Dec 2136 0.306 6.53 0.093 1.99
26-Dec 1198 0.298 3.56 0.090 1.08
27-Dec 1924 0.317 6.10 0.075 1.44
28-Dec 1593 0.279 4.45 0.075 1.19
29-Dec 1387 0.254 3.53 0.065 0.91
30-Dec 1781 0.275 4.90 0.076 1.35
31-Dec 1145 0.274 3.13 0.073 0.83
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
January 47980 0.292 140 0.072 35
04-Jan 580 0.272 1.58 0.100 0.58
05-Jan 2313 0.319 7.37 0.069 1.59
06-Jan 2106 0.313 6.59 0.079 1.65
07-Jan 1182 0.266 3.14 0.071 0.84
08-Jan 2101 0.319 6.70 0.072 1.51
09-Jan 310 0.297 0.92 0.088 0.27
10-Jan 0
11-Jan 1763 0.259 4.56 0.062 1.09
12-Jan 2163 0.310 6.71 0.071 1.55
13-Jan 2097 0.298 6.25 0.088 1.85
14-Jan 2555 0.278 7.11 0.073 1.87
15-Jan 1884 0.279 5.25 0.075 1.42
16-Jan 1796 0.289 5.19 0.070 1.26
17-Jan 1536 0.284 4.36 0.077 1.18
18-Jan 1256 0.276 3.47 0.086 1.08
19-Jan 1995 0.295 5.88 0.090 1.79
20-Jan 231 0.260 0.60 0.082 0.19
21-Jan 770 0.322 2.48 0.054 0.41
22-Jan 1925 0.301 5.80 0.062 1.20
23-Jan 2020 0.261 5.27 0.057 1.16
24-Jan 1493 0.316 4.72 0.054 0.80
25-Jan 2026 0.275 5.58 0.063 1.28
26-Jan 1963 0.249 4.89 0.064 1.25
27-Jan 1397 0.318 4.44 0.088 1.23
28-Jan 3289 0.342 11.25 0.076 2.48
29-Jan 2182 0.285 6.22 0.074 1.62
30-Jan 2663 0.272 7.24 0.059 1.58
31-Jan 2384 0.266 6.35 0.075 1.80
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
February 60934 0.300 183 0.065 40
01-Feb 3388 0.275 9.3 0.058 1.96
02-Feb 2135 0.265 5.7 0.066 1.41
03-Feb 2959 0.262 7.8 0.059 1.74
04-Feb 2424 0.256 6.2 0.058 1.42
05-Feb 1216 0.230 2.8 0.054 0.66
06-Feb 2984 0.290 8.7 0.067 2.01
07-Feb 3104 0.330 10.3 0.060 1.87
08-Feb 5046 0.378 19.1 0.060 3.02
09-Feb 2844 0.319 9.1 0.063 1.80
10-Feb 2744 0.313 8.6 0.060 1.66
11-Feb 1132 0.282 3.2 0.066 0.75
12-Feb 3327 0.319 10.6 0.065 2.16
13-Feb 3237 0.273 8.8 0.058 1.89
14-Feb 1646 0.290 4.8 0.079 1.30
15-Feb 2527 0.309 7.8 0.072 1.82
16-Feb 2594 0.276 7.2 0.063 1.64
17-Feb 2094 0.249 5.2 0.058 1.21
18-Feb 1477 0.252 3.7 0.059 0.87
19-Feb 2076 0.348 7.22 0.062 1.29
20-Feb 2044 0.331 6.76 0.076 1.55
21-Feb 1631 0.303 4.94 0.077 1.26
22-Feb 2907 0.311 9.04 0.070 2.04
23-Feb 1857 0.299 5.55 0.084 1.55
24-Feb 2643 0.310 8.20 0.078 2.07
25-Feb 897 0.262 2.35 0.074 0.67
26-Feb 0
27-Feb 0
28-Feb 0
29-Feb 0
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
March 52010 0.292 152 0.072 38
01-Mar 0
02-Mar 0
03-Mar 1426 0.319 4.55 0.084 1.20
04-Mar 639 0.286 1.83 0.057 0.37
05-Mar 0
06-Mar 0
07-Mar 0
08-Mar 0
09-Mar 1283 0.320 4.11 0.066 0.84
10-Mar 2103 0.291 6.12 0.085 1.78
11-Mar 2549 0.294 7.50 0.074 1.90
12-Mar 1248 0.318 3.97 0.076 0.95
13-Mar 2664 0.321 8.56 0.069 1.84
14-Mar 1937 0.262 5.08 0.072 1.40
15-Mar 3836 0.269 10.31 0.066 2.53
16-Mar 3209 0.281 9.01 0.062 1.98
17-Mar 3615 0.251 9.07 0.066 2.40
18-Mar 2304 0.308 7.09 0.063 1.46
19-Mar 1936 0.308 5.96 0.087 1.68
20-Mar 2294 0.315 7.23 0.076 1.74
21-Mar 2635 0.305 8.03 0.067 1.77
22-Mar 1942 0.266 5.16 0.069 1.33
23-Mar 2215 0.274 6.08 0.064 1.43
24-Mar 1661 0.313 5.19 0.060 0.99
25-Mar 1348 0.279 3.76 0.073 0.98
26-Mar 2202 0.316 6.96 0.059 1.30
27-Mar 2281 0.298 6.79 0.086 1.96
28-Mar 1886 0.310 5.84 0.058 1.09
29-Mar 1353 0.305 4.12 0.102 1.38
30-Mar 1713 0.260 4.46 0.083 1.42
31-Mar 1730 0.286 4.95 0.106 1.84
March 2006
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
April 68654 0.289 198 0.061 42
01-Apr 2426 0.270 6.54 0.062 1.50
02-Apr 1905 0.315 6.00 0.063 1.20
03-Apr 2019 0.337 6.79 0.069 1.40
04-Apr 2101 0.327 6.87 0.072 1.52
05-Apr 2145 0.272 5.84 0.066 1.41
06-Apr 2776 0.299 8.31 0.071 1.96
07-Apr 3044 0.328 9.97 0.062 1.88
08-Apr 1494 0.320 4.78 0.069 1.03
09-Apr 1740 0.309 5.38 0.081 1.40
10-Apr 2809 0.296 8.32 0.060 1.68
11-Apr 1411 0.304 4.29 0.071 1.00
12-Apr 1369 0.296 4.05 0.079 1.08
13-Apr 2316 0.307 7.11 0.060 1.40
14-Apr 3019 0.290 8.76 0.055 1.67
15-Apr 2872 0.307 8.82 0.064 1.85
16-Apr 2309 0.281 6.49 0.071 1.63
17-Apr 2648 0.315 8.33 0.056 1.48
18-Apr 1836 0.260 4.77 0.045 0.83
19-Apr 2294 0.280 6.43 0.049 1.13
20-Apr 2620 0.274 7.17 0.048 1.25
21-Apr 2148 0.282 6.07 0.059 1.26
22-Apr 2050 0.284 5.82 0.056 1.14
23-Apr 1436 0.255 3.66 0.060 0.86
24-Apr 2261 0.240 5.42 0.056 1.26
25-Apr 2548 0.279 7.11 0.065 1.65
26-Apr 3027 0.295 8.92 0.061 1.86
27-Apr 2789 0.267 7.45 0.059 1.65
28-Apr 2631 0.260 6.84 0.053 1.38
29-Apr 2207 0.274 6.05 0.058 1.27
30-Apr 2405 0.247 5.93 0.047 1.13
March 2006
Page 74 of 94
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
May 71433 0.261 187 0.052 37
01-May 2165 0.311 6.73 0.063 1.36
02-May 1953 0.245 4.79 0.054 1.05
03-May 3057 0.279 8.53 0.056 1.70
04-May 3250 0.252 8.19 0.049 1.59
05-May 3103 0.250 7.75 0.053 1.64
06-May 2617 0.244 6.39 0.039 1.02
07-May 1633 0.296 4.83 0.078 1.27
08-May 3367 0.260 8.75 0.048 1.62
09-May 3866 0.252 9.74 0.043 1.66
10-May 3673 0.240 8.82 0.039 1.43
11-May 3409 0.240 8.18 0.039 1.33
12-May 363 0.238 0.86 0.040 0.15
13-May
14-May
15-May
16-May 1238 0.298 3.69 0.047 0.58
17-May 2235 0.262 5.86 0.060 1.34
18-May 1864 0.268 5.00 0.058 1.08
19-May 2870 0.272 7.81 0.048 1.38
20-May 3087 0.272 8.40 0.048 1.48
21-May 2838 0.242 6.87 0.045 1.28
22-May 1664 0.300 4.99 0.089 1.48
23-May 2510 0.280 7.03 0.053 1.33
24-May 1741 0.282 4.91 0.055 0.96
25-May 2707 0.260 7.04 0.050 1.35
26-May 2152 0.280 6.03 0.058 1.25
27-May 2277 0.280 6.38 0.058 1.32
28-May 2668 0.260 6.94 0.056 1.49
29-May 3190 0.256 8.17 0.073 2.33
30-May 2737 0.240 6.57 0.051 1.40
31-May 3199 0.232 7.42 0.038 1.22
March 2006
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
June 68694 0.256 176 0.051 35
01-Jun 2563 0.246 6.30 0.049 1.26
02-Jun 2519 0.242 6.10 0.043 1.08
03-Jun 3806 0.232 8.83 0.042 1.60
04-Jun 2798 0.250 7.00 0.044 1.23
05-Jun 1693 0.258 4.37 0.040 0.68
06-Jun 2958 0.316 9.35 0.057 1.69
07-Jun 2041 0.246 5.02 0.051 1.04
08-Jun 2402 0.256 6.15 0.050 1.20
09-Jun 3011 0.258 7.77 0.038 1.14
10-Jun 2745 0.278 7.63 0.050 1.37
11-Jun 1670 0.310 5.18 0.075 1.25
12-Jun 1770 0.272 4.81 0.072 1.27
13-Jun 2117 0.268 5.67 0.070 1.48
14-Jun 2603 0.256 6.66 0.053 1.38
15-Jun 687 0.252 1.73 0.066 0.45
16-Jun 2514 0.248 6.23 0.055 1.38
17-Jun 2908 0.248 7.21 0.055 1.60
18-Jun 2131 0.248 5.28 0.052 1.11
19-Jun 1886 0.284 5.36 0.052 0.98
20-Jun 2658 0.240 6.38 0.054 1.44
21-Jun 3086 0.268 8.27 0.052 1.60
22-Jun 3285 0.248 8.15 0.048 1.58
23-Jun 2966 0.244 7.24 0.046 1.36
24-Jun 1450 0.268 3.89 0.055 0.80
25-Jun 576 0.242 1.39 0.042 0.24
26-Jun 2141 0.230 4.92 0.043 0.92
27-Jun 1532 0.280 4.29 0.055 0.84
28-Jun 2422 0.232 5.62 0.036 0.87
29-Jun 1473 0.260 3.83 0.042 0.62
30-Jun 2285 0.242 5.53 0.062 1.42
March 2006
Page 76 of 94
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
August 58521 0.282 165 0.075 44
01-Aug 2218 0.312 6.92 0.069 1.53
02-Aug 2052 0.280 5.75 0.070 1.44
03-Aug 2489 0.284 7.07 0.080 1.99
04-Aug 1618 0.280 4.53 0.061 0.99
05-Aug 1330 0.280 3.73 0.061 0.81
06-Aug 1250 0.280 3.50 0.059 0.74
07-Aug 2443 0.356 8.70 0.063 1.54
08-Aug 2872 0.352 10.11 0.074 2.13
09-Aug 2531 0.296 7.49 0.077 1.95
10-Aug 3412 0.298 10.17 0.065 2.22
11-Aug 2038 0.280 5.71 0.065 1.32
12-Aug 3356 0.272 9.13 0.046 1.54
13-Aug 2746 0.294 8.07 0.076 2.09
14-Aug 2052 0.304 6.24 0.057 1.17
15-Aug 2634 0.276 7.27 0.050 1.32
16-Aug 2371 0.280 6.64 0.048 1.14
17-Aug 1386 0.282 3.91 0.046 0.64
18-Aug 2309 0.261 6.01 0.052 1.20
19-Aug 1478 0.244 3.61 0.074 1.09
20-Aug 654 0.260 1.70 0.109 0.71
21-Aug 1846 0.260 4.80 0.109 2.01
22-Aug 477 0.184 0.87 0.109 0.52
23-Aug 2074 0.242 5.03 0.109 2.26
24-Aug 1433 0.260 3.73 0.109 1.56
25-Aug 1350 0.233 3.15 0.109 1.47
26-Aug 630 0.260 1.64 0.109 0.69
27-Aug 654 0.260 1.70 0.109 0.71
28-Aug 1480 0.260 3.85 0.109 1.61
29-Aug 1414 0.276 3.90 0.107 1.51
30-Aug 1508 0.255 3.85 0.097 1.46
31-Aug 2418 0.271 6.56 0.103 2.50
March 2006
Page 77 of 94
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
September 96465 0.281 271 0.065 63
01-Sep 4524 0.294 13.3 0.091 4.1
02-Sep 3705 0.247 9.2 0.083 3.1
03-Sep 3741 0.278 10.4 0.047 1.8
04-Sep 2208 0.264 5.8 0.055 1.2
05-Sep 4136 0.261 10.8 0.055 2.3
06-Sep 5491 0.289 15.9 0.060 3.3
07-Sep 3207 0.272 8.7 0.058 1.8
08-Sep 4685 0.270 12.7 0.060 2.8
09-Sep 4365 0.277 12.1 0.049 2.1
10-Sep 4835 0.279 13.5 0.062 3.0
11-Sep 3753 0.257 9.6 0.055 2.1
12-Sep 6691 0.311 20.8 0.071 4.7
13-Sep 6126 0.313 19.2 0.066 4.0
14-Sep 3271 0.278 9.1 0.080 2.6
15-Sep 5656 0.291 16.4 0.077 4.4
16-Sep 1725 0.292 5.0 0.084 1.4
17-Sep 2247 0.277 6.2 0.081 1.8
18-Sep 2026 0.284 5.8 0.074 1.5
19-Sep 2095 0.320 6.7 0.061 1.3
20-Sep 1753 0.292 5.1 0.060 1.1
21-Sep 1828 0.272 5.0 0.068 1.2
22-Sep 1854 0.284 5.3 0.073 1.4
23-Sep 1728 0.275 4.8 0.060 1.0
24-Sep 1727 0.273 4.7 0.061 1.1
25-Sep 1633 0.274 4.5 0.070 1.2
26-Sep 3081 0.284 8.8 0.057 1.8
27-Sep 2106 0.240 5.1 0.048 1.0
28-Sep 2342 0.252 5.9 0.055 1.3
29-Sep 1118 0.280 3.1 0.069 0.8
30-Sep 2810 0.275 7.7 0.051 1.4
March 2006
Page 78 of 94
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
October 106672 0.294 313 0.064 69
01-Oct 3217 0.268 8.6 0.057 1.8
02-Oct 2761 0.249 6.9 0.054 1.5
03-Oct 1720 0.273 4.7 0.071 1.2
04-Oct 2857 0.261 7.5 0.060 1.7
05-Oct 2768 0.262 7.2 0.068 1.9
06-Oct 373 0.266 1.0 0.071 0.3
07-Oct
08-Oct 74 0.312 0.2 0.059 0.0
09-Oct 1547 0.294 4.6 0.064 1.0
10-Oct 3211 0.302 9.7 0.071 2.3
11-Oct 3745 0.294 11.0 0.067 2.5
12-Oct 3075 0.312 9.6 0.058 1.8
13-Oct 3108 0.312 9.7 0.066 2.1
14-Oct 4378 0.300 13.1 0.064 2.8
15-Oct 3970 0.285 11.3 0.063 2.5
16-Oct 3933 0.316 12.4 0.054 2.1
17-Oct 2221 0.311 6.9 0.053 1.2
18-Oct 2717 0.304 8.3 0.067 1.8
19-Oct 5236 0.294 15.4 0.066 3.4
20-Oct 5593 0.294 16.5 0.064 3.6
21-Oct 4268 0.290 12.4 0.046 2.0
22-Oct 5038 0.284 14.3 0.072 3.6
23-Oct 5084 0.317 16.1 0.059 3.0
24-Oct 5624 0.298 16.8 0.058 3.3
25-Oct 5391 0.298 16.1 0.076 4.1
26-Oct 3525 0.257 9.1 0.053 1.9
27-Oct 3534 0.294 10.4 0.075 2.6
28-Oct 4220 0.300 12.7 0.073 3.1
29-Oct 4500 0.281 12.7 0.072 3.2
30-Oct 4185 0.290 12.2 0.068 2.8
31-Oct 4801 0.339 16.3 0.069 3.3
March 2006
Page 79 of 94
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
November 107001 0.287 307 0.079 85
01-Nov 3711 0.276 10.2 0.093 3.4
02-Nov 6580 0.268 17.7 0.088 5.8
03-Nov 7186 0.299 21.5 0.094 6.8
04-Nov 4373 0.266 11.6 0.072 3.1
05-Nov 3945 0.266 10.5 0.061 2.4
06-Nov 4120 0.311 12.8 0.058 2.4
07-Nov 3938 0.330 13.0 0.091 3.6
08-Nov 4380 0.300 13.1 0.076 3.3
09-Nov 2534 0.296 7.5 0.086 2.2
10-Nov 1981 0.364 7.2 0.075 1.5
11-Nov 1142 0.312 3.6 0.086 1.0
12-Nov 803 0.272 2.2 0.080 0.6
13-Nov 1037 0.288 3.0 0.076 0.8
14-Nov 2471 0.268 6.6 0.107 2.6
15-Nov 3225 0.296 9.5 0.088 2.8
16-Nov 2871 0.316 9.1 0.093 2.7
17-Nov 2389 0.292 7.0 0.069 1.6
18-Nov 1748 0.320 5.6 0.090 1.6
19-Nov 1214 0.275 3.3 0.076 0.9
20-Nov 2238 0.279 6.3 0.034 0.8
21-Nov 5628 0.309 17.4 0.082 4.6
22-Nov 7298 0.272 19.8 0.070 5.1
23-Nov 3936 0.270 10.6 0.068 2.7
24-Nov 5203 0.290 15.1 0.083 4.3
25-Nov 5605 0.299 16.8 0.075 4.2
26-Nov 2158 0.242 5.2 0.065 1.4
27-Nov 2548 0.264 6.7 0.071 1.8
28-Nov 2125 0.250 5.3 0.066 1.4
29-Nov 5576 0.273 15.2 0.093 5.2
30-Nov 5041 0.276 13.9 0.086 4.3
March 2006
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2004 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
December 100922 0.270 272 0.066 66
01-Dec 4435 0.288 12.8 0.072 3.2
02-Dec 3692 0.276 10.2 0.069 2.5
03-Dec 4818 0.280 13.5 0.077 3.7
04-Dec 1868 0.300 5.6 0.078 1.5
05-Dec 5859 0.274 16.0 0.076 4.5
06-Dec 5537 0.279 15.4 0.059 3.3
07-Dec 1973 0.232 4.6 0.054 1.1
08-Dec 2778 0.265 7.4 0.078 2.2
09-Dec 3523 0.254 8.9 0.060 2.1
10-Dec 2522 0.274 6.9 0.066 1.7
11-Dec 2751 0.268 7.4 0.066 1.8
12-Dec 3366 0.268 9.0 0.068 2.3
13-Dec 3611 0.236 8.5 0.066 2.4
14-Dec 2696 0.260 7.0 0.062 1.7
15-Dec 2604 0.260 6.8 0.061 1.6
16-Dec 2939 0.252 7.4 0.062 1.8
17-Dec 2980 0.316 9.4 0.063 1.9
18-Dec 5074 0.272 13.8 0.068 3.4
19-Dec 4743 0.306 14.5 0.044 2.1
20-Dec 2181 0.265 5.8 0.072 1.6
21-Dec 3017 0.266 8.0 0.077 2.3
22-Dec 2532 0.267 6.8 0.061 1.5
23-Dec 2338 0.265 6.2 0.060 1.4
24-Dec 3076 0.263 8.1 0.060 1.8
25-Dec 3622 0.251 9.1 0.060 2.2
26-Dec 4020 0.258 10.4 0.059 2.4
27-Dec 2890 0.281 8.1 0.065 1.9
28-Dec 2446 0.268 6.6 0.062 1.5
29-Dec 3390 0.258 8.8 0.074 2.5
30-Dec 3040 0.254 7.7 0.068 2.1
31-Dec 606 0.279 1.7 0.076 0.5
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
January 79579 0.266 211 0.076 60
06-Jan 606 0.263 1.6 0.068 0.4
07-Jan 1212 0.236 2.9 0.061 0.7
08-Jan 1793 0.265 4.7 0.066 1.2
09-Jan 1937 0.257 5.0 0.059 1.1
10-Jan 1771 0.284 5.0 0.082 1.5
11-Jan 1480 0.265 3.9 0.073 1.1
12-Jan 3071 0.274 8.4 0.079 2.4
13-Jan 3719 0.272 10.1 0.087 3.2
14-Jan 5201 0.266 13.8 0.071 3.7
15-Jan 4782 0.281 13.4 0.091 4.3
16-Jan 6437 0.272 17.5 0.084 5.4
17-Jan 2031 0.288 5.9 0.088 1.8
18-Jan 3822 0.257 9.8 0.071 2.7
19-Jan 3524 0.250 8.8 0.080 2.8
20-Jan 3771 0.247 9.3 0.069 2.6
21-Jan 2908 0.261 7.6 0.066 1.9
22-Jan 4496 0.263 11.8 0.075 3.4
23-Jan 3274 0.258 8.5 0.076 2.5
24-Jan 3420 0.282 9.7 0.078 2.7
25-Jan 3482 0.263 9.2 0.071 2.5
26-Jan 4461 0.265 11.8 0.066 2.9
27-Jan 4794 0.267 12.8 0.067 3.2
28-Jan 4103 0.260 10.7 0.082 3.3
31-Jan 3484 0.263 9.2 0.074 2.6
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
February 111576 0.280 312 0.077 86
01-Feb 3979 0.271 10.8 0.067 2.7
02-Feb 6208 0.273 17.0 0.068 4.2
03-Feb 4285 0.277 11.9 0.073 3.1
04-Feb 4328 0.296 12.8 0.065 2.8
05-Feb 5356 0.272 14.6 0.070 3.7
06-Feb 3772 0.276 10.4 0.072 2.7
07-Feb 2398 0.296 7.1 0.080 1.9
08-Feb 9551 0.288 27.5 0.081 7.7
09-Feb 5238 0.296 15.5 0.082 4.3
10-Feb 3142 0.272 8.5 0.099 3.1
11-Feb 5575 0.264 14.7 0.081 4.5
12-Feb 6220 0.264 16.4 0.081 5.0
13-Feb 2753 0.252 6.9 0.086 2.4
14-Feb 1645 0.280 4.6 0.074 1.2
15-Feb 4648 0.304 14.1 0.075 3.5
16-Feb 3932 0.280 11.0 0.088 3.5
17-Feb 5147 0.280 14.4 0.080 4.1
18-Feb 4674 0.296 13.8 0.079 3.7
19-Feb 5333 0.276 14.7 0.086 4.6
20-Feb 2788 0.260 7.2 0.072 2.0
21-Feb 1969 0.280 5.5 0.100 2.0
22-Feb 3516 0.292 10.3 0.087 3.1
23-Feb 3424 0.292 10.0 0.075 2.6
24-Feb 2748 0.260 7.1 0.072 2.0
25-Feb 3533 0.292 10.3 0.050 1.8
26-Feb 1348 0.264 3.6 0.051 0.7
27-Feb 1619 0.276 4.5 0.062 1.0
28-Feb 2449 0.276 6.8 0.070 1.7
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
March 117639 0.282 331 0.071 83
01-Mar 1741 0.304 5.3 0.065 1.1
02-Mar 2443 0.292 7.1 0.070 1.7
03-Mar 4327 0.296 12.8 0.071 3.1
04-Mar 2725 0.284 7.7 0.080 2.2
05-Mar 2819 0.280 7.9 0.078 2.2
06-Mar 4995 0.280 14.0 0.078 3.9
07-Mar 2516 0.292 7.3 0.075 1.9
08-Mar 1523 0.270 4.1 0.088 1.3
09-Mar 1681 0.292 4.9 0.082 1.4
10-Mar 3401 0.300 10.2 0.070 2.4
11-Mar 3419 0.276 9.4 0.076 2.6
12-Mar 1916 0.268 5.1 0.080 1.5
13-Mar 2378 0.260 6.2 0.072 1.7
14-Mar 2401 0.340 8.2 0.074 1.8
15-Mar 1471 0.268 3.9 0.084 1.2
16-Mar 3755 0.280 10.5 0.082 3.1
17-Mar 3820 0.280 10.7 0.083 3.2
18-Mar 7087 0.284 20.1 0.069 4.9
19-Mar 4074 0.272 11.1 0.079 3.2
20-Mar 3396 0.296 10.1 0.068 2.3
21-Mar 2236 0.328 7.3 0.081 1.8
22-Mar 4894 0.328 16.1 0.056 2.7
23-Mar 6057 0.296 17.9 0.061 3.7
24-Mar 5197 0.280 14.6 0.062 3.2
25-Mar 5587 0.268 15.0 0.060 3.4
26-Mar 5000 0.282 14.1 0.064 3.2
27-Mar 4970 0.256 12.7 0.070 3.5
28-Mar 4440 0.260 11.5 0.068 3.0
29-Mar 6604 0.260 17.2 0.070 4.6
30-Mar 6083 0.260 15.8 0.070 4.3
31-Mar 4685 0.268 12.6 0.066 3.1
March 2006
Page 84 of 94
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
April 137740 0.277 381 0.067 92
01-Apr 5230 0.280 14.6 0.075 3.9
02-Apr 3808 0.276 10.5 0.067 2.6
03-Apr 4587 0.256 11.7 0.060 2.8
04-Apr 2898 0.288 8.3 0.054 1.6
05-Apr 3594 0.292 10.5 0.068 2.4
06-Apr 5317 0.296 15.7 0.071 3.8
07-Apr 5222 0.296 15.5 0.071 3.7
08-Apr 6797 0.288 19.6 0.056 3.8
09-Apr 5831 0.300 17.5 0.065 3.8
10-Apr 3918 0.280 11.0 0.067 2.6
11-Apr 5059 0.296 15.0 0.069 3.5
12-Apr 4196 0.280 11.7 0.065 2.7
13-Apr 2421 0.300 7.3 0.086 2.1
14-Apr 3738 0.308 11.5 0.088 3.3
15-Apr 3351 0.276 9.2 0.096 3.2
16-Apr 3753 0.256 9.6 0.069 2.6
17-Apr 6035 0.272 16.4 0.071 4.3
18-Apr 4267 0.264 11.3 0.075 3.2
19-Apr 4802 0.252 12.1 0.066 3.2
20-Apr 4886 0.284 13.9 0.076 3.7
21-Apr 5911 0.260 15.4 0.062 3.7
22-Apr 5302 0.264 14.0 0.080 4.2
23-Apr 4657 0.264 12.3 0.076 3.5
24-Apr 4661 0.220 10.3 0.076 3.5
25-Apr 4749 0.264 12.5 0.065 3.1
26-Apr 2515 0.264 6.6 0.052 1.3
27-Apr 3170 0.292 9.3 0.063 2.0
28-Apr 5830 0.296 17.2 0.050 2.9
29-Apr 5748 0.264 15.2 0.057 3.3
30-Apr 5487 0.284 15.6 0.038 2.1
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
May 78464 0.280 220 0.063 49
01-May 5951 0.296 17.6 0.042 2.5
02-May 5537 0.280 15.5 0.059 3.3
03-May 4405 0.292 12.9 0.066 2.9
04-May 3365 0.324 10.9 0.066 2.2
05-May 2668 0.288 7.7 0.062 1.7
06-May 1465 0.240 3.5 0.058 0.8
07-May 937 0.288 2.7 0.070 0.7
08-May 1317 0.268 3.5 0.072 0.9
09-May 1605 0.280 4.5 0.072 1.2
10-May 342 0.244 0.8 0.056 0.2
11-May 494 0.280 1.4 0.060 0.3
12-May 564 0.280 1.6 0.066 0.4
13-May 584 0.336 2.0 0.074 0.4
14-May 675 0.308 2.1 0.068 0.5
15-May 1568 0.276 4.3 0.071 1.1
16-May 1764 0.288 5.1 0.066 1.2
17-May 1683 0.264 4.4 0.067 1.1
18-May 2422 0.268 6.5 0.061 1.5
19-May 1838 0.268 4.9 0.052 1.0
20-May 1499 0.296 4.4 0.067 1.0
21-May 1773 0.272 4.8 0.071 1.3
22-May 3960 0.272 10.8 0.071 2.8
23-May 3989 0.288 11.5 0.056 2.2
24-May 3892 0.272 10.6 0.064 2.5
25-May 2738 0.264 7.2 0.064 1.8
26-May 3547 0.272 9.6 0.048 1.7
27-May 3736 0.268 10.0 0.073 2.7
28-May 3254 0.284 9.2 0.065 2.1
29-May 3979 0.268 10.7 0.071 2.8
30-May 3572 0.272 9.7 0.076 2.7
31-May 3344 0.272 9.1 0.060 2.0
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
June 49731 0.293 146 0.076 38
01-Jun 3136 0.292 9.2 0.071 2.2
02-Jun 3742 0.288 10.8 0.065 2.4
03-Jun 3413 0.268 9.1 0.071 2.4
04-Jun 2024 0.260 5.3 0.044 0.9
05-Jun 1753 0.276 4.8 0.072 1.3
06-Jun 1821 0.304 5.5 0.076 1.4
07-Jun 3174 0.320 10.2 0.075 2.4
08-Jun 3213 0.312 10.0 0.062 2.0
09-Jun 1711 0.316 5.4 0.073 1.2
10-Jun 1060 0.300 3.2 0.089 0.9
11-Jun 475 0.296 1.4 0.071 0.3
12-Jun 917 0.296 2.7 0.081 0.7
13-Jun 1026 0.284 2.9 0.090 0.9
14-Jun 538 0.348 1.9 0.088 0.5
15-Jun 687 0.304 2.1 0.082 0.6
16-Jun 473 0.276 1.3 0.079 0.4
17-Jun 399 0.300 1.2 0.086 0.3
18-Jun 927 0.292 2.7 0.066 0.6
19-Jun 889 0.304 2.7 0.072 0.6
20-Jun 903 0.312 2.8 0.099 0.9
21-Jun 343 0.312 1.1 0.099 0.3
22-Jun 299 0.344 1.0 0.066 0.2
23-Jun 1534 0.312 4.8 0.070 1.1
24-Jun 2932 0.284 8.3 0.094 2.8
25-Jun 1586 0.280 4.4 0.077 1.2
26-Jun 572 0.328 1.9 0.062 0.4
27-Jun 1301 0.296 3.9 0.064 0.8
28-Jun 2001 0.300 6.0 0.077 1.5
29-Jun 3488 0.264 9.2 0.085 3.0
30-Jun 3395 0.288 9.8 0.100 3.4
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
July 93743 0.293 275 0.077 72
01-Jul 2155 0.296 6.4 0.091 2.0
02-Jul 2831 0.292 8.3 0.069 2.0
03-Jul 2608 0.340 8.9 0.087 2.3
04-Jul 4594 0.276 12.7 0.083 3.8
05-Jul 4826 0.284 13.7 0.072 3.5
06-Jul 3201 0.304 9.7 0.070 2.2
07-Jul 2989 0.272 8.1 0.072 2.2
08-Jul 3377 0.296 10.0 0.067 2.3
09-Jul 2146 0.304 6.5 0.082 1.8
10-Jul 4055 0.296 12.0 0.076 3.1
11-Jul 1849 0.288 5.3 0.064 1.2
12-Jul 2993 0.312 9.3 0.069 2.1
13-Jul 3590 0.300 10.8 0.065 2.3
14-Jul 4506 0.288 13.0 0.064 2.9
15-Jul 3611 0.304 11.0 0.071 2.6
16-Jul 3909 0.300 11.7 0.067 2.6
17-Jul 2592 0.296 7.7 0.068 1.8
18-Jul 2706 0.296 8.0 0.068 1.8
19-Jul 1623 0.276 4.5 0.072 1.2
20-Jul 1035 0.320 3.3 0.074 0.8
21-Jul 2306 0.320 7.4 0.085 2.0
22-Jul 1674 0.268 4.5 0.106 1.8
23-Jul 3050 0.288 8.8 0.103 3.1
24-Jul 3026 0.280 8.5 0.077 2.3
25-Jul 3089 0.308 9.5 0.077 2.4
26-Jul 3466 0.264 9.2 0.089 3.1
27-Jul 1983 0.276 5.5 0.082 1.6
28-Jul 2959 0.288 8.5 0.100 3.0
29-Jul 4205 0.288 12.1 0.088 3.7
30-Jul 3408 0.280 9.5 0.078 2.7
31-Jul 3381 0.308 10.4 0.069 2.3
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
August 78544 0.296 232 0.079 62
01-Aug 1858 0.328 6.1 0.064 1.2
02-Aug 766 0.304 2.3 0.077 0.6
03-Aug 2146 0.272 5.8 0.079 1.7
04-Aug 2686 0.284 7.6 0.090 2.4
05-Aug 3170 0.300 9.5 0.081 2.6
06-Aug 4718 0.296 14.0 0.072 3.4
07-Aug 2647 0.292 7.7 0.075 2.0
09-Aug 2960 0.288 8.5 0.076 2.2
10-Aug 8638 0.280 24.2 0.078 6.7
11-Aug 5032 0.308 15.5 0.083 4.2
12-Aug 4336 0.304 13.2 0.084 3.6
13-Aug 2691 0.300 8.1 0.082 2.2
14-Aug 2838 0.312 8.9 0.095 2.7
15-Aug 4646 0.272 12.6 0.054 2.5
16-Aug 4271 0.308 13.2 0.089 3.8
17-Aug 3314 0.324 10.7 0.073 2.4
18-Aug 2860 0.308 8.8 0.092 2.6
19-Aug 2778 0.292 8.1 0.090 2.5
20-Aug 3890 0.280 10.9 0.081 3.2
21-Aug 1837 0.292 5.4 0.087 1.6
22-Aug 1541 0.292 4.5 0.067 1.0
23-Aug 430 0.292 1.3 0.067 0.3
24-Aug 325 0.296 1.0 0.078 0.3
25-Aug 1519 0.308 4.7 0.058 0.9
26-Aug 1122 0.296 3.3 0.084 0.9
27-Aug 801 0.280 2.2 0.110 0.9
28-Aug 1289 0.296 3.8 0.070 0.9
29-Aug 1494 0.296 4.4 0.070 1.0
30-Aug 781 0.300 2.3 0.068 0.5
31-Aug 1161 0.304 3.5 0.072 0.8
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
September 106300 0.297 316 0.070 75
01-Sep 1174 0.304 3.6 0.072 0.8
02-Sep 744 0.308 2.3 0.068 0.5
03-Sep 2750 0.300 8.3 0.071 2.0
04-Sep 1154 0.300 3.5 0.072 0.8
05-Sep 1210 0.304 3.7 0.064 0.8
06-Sep 2989 0.312 9.3 0.078 2.3
07-Sep 3210 0.284 9.1 0.069 2.2
08-Sep 4241 0.304 12.9 0.082 3.5
09-Sep 3571 0.304 10.9 0.082 2.9
10-Sep 3784 0.300 12.2 0.072 2.9
11-Sep 4695 0.280 13.1 0.055 2.6
12-Sep 4627 0.328 15.2 0.076 3.5
13-Sep 4920 0.296 14.6 0.073 3.6
14-Sep 5635 0.308 17.4 0.057 3.2
15-Sep 4947 0.320 15.8 0.078 3.9
16-Sep 2557 0.280 7.2 0.056 1.4
17-Sep 4459 0.256 11.4 0.057 2.5
18-Sep 4105 0.276 11.3 0.050 2.1
19-Sep 4913 0.324 15.9 0.061 3.0
20-Sep 2905 0.280 8.1 0.070 2.0
21-Sep 3010 0.284 8.5 0.074 2.2
22-Sep 1377 0.292 4.0 0.079 1.1
23-Sep 3261 0.300 9.8 0.089 2.9
24-Sep 4775 0.288 13.8 0.083 4.0
25-Sep 3613 0.304 11.0 0.076 2.7
26-Sep 3782 0.304 11.5 0.076 2.9
27-Sep 2354 0.292 6.9 0.078 1.8
28-Sep 4107 0.284 11.7 0.083 3.4
29-Sep 5772 0.284 16.4 0.054 3.1
30-Sep 5658 0.296 16.7 0.070 4.0
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
October 112428 0.284 319 0.080 90
01-Oct 4638 0.280 13.0 0.068 3.2
02-Oct 4649 0.280 13.0 0.081 3.8
03-Oct 4807 0.284 13.7 0.083 4.0
04-Oct 4549 0.280 12.7 0.082 3.7
05-Oct 4205 0.276 11.6 0.072 3.0
06-Oct 2375 0.260 6.2 0.067 1.6
07-Oct 4667 0.296 13.8 0.099 4.6
08-Oct 5455 0.284 15.5 0.086 4.7
09-Oct 4936 0.268 13.2 0.104 5.1
10-Oct 6886 0.296 20.4 0.066 4.5
11-Oct 2652 0.320 8.5 0.082 2.2
12-Oct 3944 0.280 11.0 0.079 3.1
13-Oct 2794 0.276 7.7 0.072 2.0
14-Oct 3966 0.276 10.9 0.077 3.1
15-Oct 3952 0.276 10.9 0.062 2.5
16-Oct 5027 0.288 14.5 0.073 3.7
17-Oct 4140 0.284 11.8 0.074 3.1
18-Oct 4375 0.272 11.9 0.067 2.9
19-Oct 2000 0.276 5.5 0.089 1.8
20-Oct 2800 0.316 8.8 0.086 2.4
21-Oct 1419 0.288 4.1 0.090 1.3
22-Oct 2157 0.296 6.4 0.095 2.0
23-Oct 2264 0.296 6.7 0.080 1.8
24-Oct 3160 0.300 9.5 0.086 2.7
25-Oct 2685 0.288 7.7 0.095 2.6
26-Oct 4449 0.288 12.8 0.095 4.2
27-Oct 1697 0.252 4.3 0.064 1.1
28-Oct 3105 0.280 8.7 0.093 2.9
29-Oct 3709 0.272 10.1 0.074 2.7
30-Oct 3219 0.288 9.3 0.082 2.6
31-Oct 1749 0.288 5.0 0.082 1.4
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
November 109404 0.272 298 0.074 80
01-Nov 2429 0.280 6.8 0.081 2.0
02-Nov 1994 0.284 5.7 0.086 1.7
03-Nov 3749 0.282 10.6 0.085 3.2
04-Nov 3739 0.280 10.5 0.091 3.4
05-Nov 4429 0.284 12.6 0.060 2.7
06-Nov 3955 0.284 11.2 0.066 2.6
07-Nov 4138 0.256 10.6 0.062 2.6
08-Nov 3916 0.268 10.5 0.073 2.9
09-Nov 3580 0.292 10.5 0.090 3.2
10-Nov 2946 0.312 9.2 0.093 2.7
11-Nov 3624 0.276 10.0 0.084 3.0
12-Nov 4395 0.272 12.0 0.078 3.4
13-Nov 4824 0.268 12.9 0.064 3.1
14-Nov 2879 0.252 7.3 0.065 1.9
15-Nov 3141 0.272 8.5 0.072 2.3
16-Nov 4813 0.260 12.5 0.072 3.5
17-Nov 4228 0.240 10.1 0.068 2.9
18-Nov 5363 0.264 14.2 0.063 3.4
19-Nov 2766 0.264 7.3 0.067 1.9
20-Nov 3080 0.272 8.4 0.069 2.1
21-Nov 3396 0.260 8.8 0.064 2.2
22-Nov 3146 0.308 9.7 0.091 2.9
23-Nov 3108 0.284 8.8 0.095 3.0
24-Nov 4257 0.278 11.8 0.091 3.9
25-Nov 2960 0.264 7.8 0.068 2.0
26-Nov 2470 0.256 6.3 0.063 1.6
27-Nov 5906 0.272 16.1 0.068 4.0
28-Nov 2661 0.268 7.1 0.063 1.7
29-Nov 3910 0.272 10.6 0.073 2.9
30-Nov 3601 0.260 9.4 0.061 2.2
March 2006
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2005 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
December 108489 0.268 291 0.066 72
01-Dec 1379 0.256 3.5 0.070 1.0
02-Dec 2577 0.284 7.3 0.086 2.2
03-Dec 3907 0.284 11.1 0.075 2.9
04-Dec 5374 0.256 13.8 0.062 3.3
05-Dec 3506 0.232 8.1 0.057 2.0
06-Dec 2119 0.284 6.0 0.079 1.7
07-Dec 3319 0.272 9.0 0.078 2.6
08-Dec 4533 0.280 12.7 0.066 3.0
09-Dec 3002 0.312 9.4 0.094 2.8
10-Dec 2412 0.288 6.9 0.091 2.2
11-Dec 3059 0.288 8.8 0.045 1.4
12-Dec 4892 0.284 13.9 0.082 4.0
13-Dec 3839 0.264 10.1 0.078 3.0
14-Dec 2227 0.260 5.8 0.060 1.3
15-Dec 3209 0.280 9.0 0.070 2.2
16-Dec 4467 0.280 12.5 0.070 3.1
17-Dec 2733 0.260 7.1 0.078 2.1
18-Dec 943 0.300 2.8 0.081 0.8
19-Dec 2659 0.280 7.4 0.055 1.5
20-Dec 3778 0.278 10.5 0.063 2.4
21-Dec 1746 0.272 4.7 0.068 1.2
22-Dec 4061 0.280 11.4 0.056 2.3
23-Dec 4143 0.264 10.9 0.066 2.7
24-Dec 3686 0.272 10.0 0.064 2.4
25-Dec 6300 0.268 16.9 0.072 4.5
26-Dec 7902 0.232 18.3 0.041 3.2
27-Dec 3688 0.260 9.6 0.049 1.8
28-Dec 3577 0.248 8.9 0.066 2.4
29-Dec 3271 0.264 8.6 0.058 1.9
30-Dec 4953 0.252 12.5 0.058 2.9
31-Dec 1227 0.268 3.3 0.084 1.0
March 2006
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2006 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
January 63637 0.271 173 0.067 43
01-Jan
02-Jan
03-Jan
04-Jan
05-Jan
06-Jan
07-Jan 1677 0.272 4.6 0.072 1.2
08-Jan 1743 0.312 5.4 0.062 1.1
09-Jan 1639 0.292 4.8 0.064 1.0
10-Jan
11-Jan 843 0.256 2.2 0.080 0.7
12-Jan 1120 0.256 2.9 0.080 0.9
13-Jan 3868 0.264 10.2 0.069 2.7
14-Jan 3257 0.260 8.5 0.069 2.2
15-Jan 3732 0.240 9.0 0.064 2.4
16-Jan 3945 0.260 10.3 0.065 2.6
17-Jan 2734 0.264 7.2 0.079 2.2
18-Jan 1780 0.244 4.3 0.070 1.2
19-Jan 2131 0.272 5.8 0.052 1.1
20-Jan 3296 0.256 8.4 0.061 2.0
21-Jan 4370 0.300 13.1 0.061 2.7
22-Jan 3068 0.264 8.1 0.057 1.7
23-Jan 3224 0.276 8.9 0.064 2.1
24-Jan 2687 0.284 7.6 0.063 1.7
25-Jan 3160 0.308 9.7 0.070 2.2
26-Jan 3604 0.296 10.7 0.075 2.7
27-Jan 2112 0.264 5.6 0.069 1.5
28-Jan 3404 0.284 9.7 0.080 2.7
29-Jan 2881 0.248 7.1 0.068 2.0
30-Jan 1289 0.252 3.2 0.059 0.8
31-Jan 2072 0.264 5.5 0.067 1.4
March 2006
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2006 Tonnes % CuT
Contained CuT %CuOx
Contained CuOx
February 149,186 0.276 411 0.095 141
01-Feb 2559 0.272 7.0 0.062 1.6
02-Feb 3965 0.256 10.2 0.068 2.7
03-Feb 3041 0.248 7.5 0.053 1.6
04-Feb 3025 0.272 8.2 0.070 2.1
05-Feb 1193 0.264 3.1 0.046 0.5
06-Feb 1124 0.276 3.1 0.061 0.7
07-Feb 1120 0.264 3.0 0.051 0.6
08-Feb 593 0.276 1.6 0.060 0.4
09-Feb 2065 0.268 5.5 0.069 1.4
10-Feb 3690 0.284 10.5 0.102 3.8
11-Feb 3685 0.296 10.9 0.070 2.6
12-Feb 1470 0.276 4.1 0.035 0.5
13-Feb 1803 0.260 4.7 0.051 0.9
14-Feb 2573 0.260 6.7 0.051 1.3
15-Feb 2770 0.284 7.9 0.058 1.6
16-Feb 3401 0.296 10.1 0.049 1.7
17-Feb 5650 0.288 16.3 0.103 5.8
18-Feb 3402 0.280 9.5 0.068 2.3
19-Feb 6625 0.248 16.4 0.060 4.0
20-Feb 9803 0.284 27.8 0.072 7.1
21-Feb 8055 0.280 22.6 0.093 7.5
22-Feb 5766 0.280 16.1 0.086 5.0
23-Feb 13637 0.280 38.2 0.121 16.5
24-Feb 11500 0.264 30.4 0.095 10.9
25-Feb 12946 0.284 36.8 0.134 17.3
26-Feb 11787 0.272 32.1 0.130 15.3
27-Feb 11821 0.284 33.6 0.112 13.2
28-Feb 10115 0.272 27.5 0.120 12.1
