Junior Golden News Resources (VSE) has commissioned an Arizona-based firm to engineer and construct the Luz del Cobre copper project in Mexico’s Sonora state.
M3 Engineering & Technology of Tucson will construct an in situ leaching plant at the deposit, which is estimated to contain 6 million tons grading 1% copper.
Production is expected to begin in mid-1995 at the rate of 10 million lb. copper per year. The cash cost is estimated to be US35 cents per lb. The project is now expected to carry a capital cost of about US$10 million, up from the original projection of US$6 million.
The upgraded estimate includes an expanded solvent extraction-electrowinning plant capable of handling almost double the production from Luz del Cobre. Joseph Charland, a director, said the expanded capacity will allow the company to acquire other in situ leach operations for processing.
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