NEWS ROUNDUP — Musto completes metallurgical study

With a final feasibility study due by the end of October, International Musto Explorations (VSE) is seeking partners for its Bajo de La Alumbrera project in Argentina.

Several major companies reportedly have shown interest in the copper-gold project, which is being designed to process 60,000 tonnes per day in two grinding circuits.

The proposed mine is expected to last 20 years, with life-of-mine annual production of 247 million lb. copper and 350,000 oz. gold. Average annual production in the first four years would be higher, however, at about 280 million lb. copper and 470,000 oz. gold.

Initial metallurgical studies indicate recoveries of 91% for copper and 70% for gold. Copper concentrate grade is estimated at 27%, with about one ounce gold per ton of concentrate.

A recent railway study estimates that about $US4 million would be required to revamp existing rail facilities. An additional US$25 million would be required for locomotives, railway cars, etc. Operation and maintenance of the railway would be sub-contracted to an independent railroad company.