THE BOURSE WHISPERER: Metallum Limited (ASX: MNE) has commenced trucking copper-bearing material from the Panga mine at the El Roble copper project in Chile to a nearby toll treatment plant.
The Perth-based copper developer said it has received a permit to commence delivery of copper-bearing material to the local ENAMI facilities.
This means Metallum is now able to commence trucking material extracted from the underground Panga mine, where it has a production agreement to extract up to 5,000 tonnes of copper-bearing material per month.
Metallum has also submitted all documentation to obtain the necessary mine operation permit to commence underground mine work at the Paraguay mine, located one kilometre from Panga.
The company expects to receive this licence in August.
“Having the first trucks of copper-bearing material delivered to the mill is an important milestone for Metallum as we work towards executing our strategy of funding long-term growth from small-scale production,” Metallum managing director Zeff Reeves said in the company’s announcement to the Australian Securities Exchange.
“Our grade control sampling has delineated a small high-grade zone on the 956S level at Panga, on which we have begun stoping.
Level plan of the Panga mine showing location of the high-grade copper
zone where MNE has commenced vertical mining and target zone to the
south-west of the advancing 956S drive. Source: Company announcement
“This high-grade zone is the first area we have commenced work on to provide a steady flow of material which we can truck to the mill.
“Now we have commenced trucking, our plan is to continue to increase deliveries over the coming month as the 956S stope is extracted.
“Mining at Paraguay will commence once we have all the necessary permits in hand.
“The big advantage we have at Paraguay is there is mineralised material ready for stoping already exposed, which should provide an initial 1,500 to 2,000 tonnes, and as soon as we commence work there, we will be moving material that can be trucked to the mill immediately.”