Sandfire Resources (ASX: SFR) announced today that it has received its mining license for its Motheo copper mine from the government of Botswana.
“The granting of the mining license represents the last major step in the authorization required to start full-scale construction of the US $ 279 million (AU $ 364 million) project, with initial work on the site already underway. ongoing, ”the company wrote.
According to a pre-feasibility study, the mine is expected to have an initial life of 12.5 years and ore reserves of 39.9 million tonnes at 0.9 percent copper and 12.2 grams per tonne silver . This would produce an average of 30,000 tonnes of contained copper and 1.2 million ounces of contained silver per year over the first 10 years of operation.
The mineral resource update for the A4 satellite deposit is expected to be finalized in the coming weeks, constituting the cornerstone of the strategy to rapidly increase production at the Motheo production hub from 3.2 Mtpa to 5.2 Mtpa.
Sandfire said it remains on track to start mining at Motheo in early 2022 and deliver first production in early 2023.
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