Green light! Teck announces regulatory approval for the Zafranal project in Peru

Inspenet, May 14, 2023

Teck announced that the Zafranal copper project in Peru has received regulatory approval from SENACE, Peru’s National Environmental Certification Service for Sustainable Investments.

Zafranal is a highly competitive, mid-size copper-gold development project located in the porphyry copper belt of southern Peru, in the Arequipa region. The deposit is owned by Compañía Minera Zafranal SAC, of which Teck owns 80% and Mitsubishi Materials Corporation 20%.

Teck: Approval of the Zafranal project is an important step forward

“The regulatory approval of the Zafranal project is an important step forward in our strategy to grow our copper business and unlock significant shareholder value,” said Jonathan Price, Teck’s CEO.

“Zafranal will be a long-life, low-cost operation, and is a key part of Teck’s industry-leading portfolio of high-quality, low-cost copper assets in well-established mining jurisdictions across the Americas.”

1808 Teck anuncia aprobacion reglamentaria para proyecto Zafranal en Peru INTERNA

Located in the Arequipa region of southern Peru, Zafranal has an expected mine life of 19 years and will produce copper-gold concentrates using open pit mining and a conventional concentration process.

The copper ore processing, which includes crushing, grinding, flotation, thickening and filtering, will be carried out in a concentrator plant with a processing capacity of up to 80,000 tons of ore per day. The mine and concentrator are expected to produce an average of 133,000 tonnes of contained copper in concentrate during its first 5 years of production.

In June 2019 Ausenco completed a Zafranal Project Feasibility Study which was updated in January 2020 to include discrete value-added engineering updates. Going forward, the Zafranal team will update the project’s capital and operating cost estimates and develop detailed engineering plans, as well as minor permitting activities during 2023. The project could be positioned for a formal decision to sanction the project as early as the first half of 2024.

Receiving regulatory approval for the Zafranal Project is another positive step in Teck’s strategy to advance its industry-leading Copper Growth portfolio in a timely and prudent manner.

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