This deposit has been key feeder for the giant Balkhash smelter, responsible for 65% of Kazakhstan’s copper production. Dumps of over 300mln ton accumulated from 40 yrs of operation
Resource Analysis
- Wardell Armstrong (MRI, PCR) 2020
- During2015-2016 ,the Company undertook exploration:
- Reverse circulation(RC)drilling–47holes
- SurfacePitting–141
- ToePitting–26
- more than 900 ore samples
SX-EW plant Results
- The pilot plant commissioned in autumn 2017 and produced first copper in November 2017.
- Following remedial work on the leaching pad and collection system in spring of 2018, the plant has reached a steady-state production with PLS ERE grcae of 1.5-1.6 g/L, and average daily production of 200 kg of copper cathode
- Over 36 tons of cathode copper sold on the local market at near LME prices.
- 1.2 km electric line fo the site and 630 kW transformer — completed and connected fo local electric grid
- 400 m access road to the site — completed
- 1.1 km water pipeline fo the site — completed
- Building for the SX-EW pilot plant — completed, insulation and ventilation installed
- 1 km of piping for the heap irrigation — purchased, connected and laid out
- Ponds and collection trenches — completed and lined with geomembrane
SX-EW Business Model
- Planned annual production: 10,000 fons of LME grade “A” cathode copper
- A 23-year copper production contract with the government of Kazakhstan signed in May 2017.
- Key production cost drivers:
- Chemicals & Reagents and Power (variable) — favorable geographic location helps keeping these costs low
- Labor and Production Overheads (fixed)
- Mineral Extraction Tax @ 5.7% on value of copper in PLS
- Distribution & Selling — mix of fixed and variable driven by local Infrastructure and T&C of the oft-take contract
