Marimaca Copper Unveils 13-Year Mine Plan with Steady-State Production

Marimaca Copper has released its definitive feasibility study on the Marimaca Oxide Deposit, outlining a 13-year mine life that produces 748,000 tonnes of contained copper. The plan is based on proved and probable reserves of 179 million tonnes at 0.42% total copper.

The reserve supports steady-state production of 50,000 tonnes per annum (tpa) of copper cathode, with an average annual processing rate increasing from 12.4 Mt in the early years to 14.1 Mt over the life of mine. The head grade remains between 0.42% and 0.54% through year 10, before dropping to 0.26% in year 11 and 0.18% in years 12 and 13.

Processing continues for two years after mining ends, with stockpiled ore feeding the plant. The study assumes a long-term copper price of $4.30 per pound, yielding a post-tax net present value (NPV8%) of $709 million and an internal rate of return (IRR) of 31%. At a copper price of $5.05 per pound, these figures increase to $1.1 billion and 39%, respectively.

Chief Executive Officer Hayden Locke connects the current drilling at Pampa Medina to the extension of the oxide resource, which could potentially feed the plant through a hub-and-spoke district plan. However, no mineral resource estimate has been made for this material yet.