Harmony flags capacity boost as Eva studies progress

Harmony expects to pump up the processing capacity at the Eva project, along with capital investment, after months of studies on the former Copper Mountain Mining asset. The South African miner acquired the copper-gold project, about 75km north-east of Cloncurry, in December 2022 and has been carrying out feasibility work since. Chief executive officer Peter Steenkamp said Eva Copper would be a conventional open-cut mine comprising multiple pits, feeding a copper concentrator based on a proven processing flow sheet and technology selection. "Based on the extensive work done to date, it is anticipated that the processing facility will have greater capacity than indicated by the project's previous owner," he said. "Along with the effect of scope change and inflationary impacts since acquisition, the project will require a higher capital investment than what was anticipated in the previous owner’s feasibility study. "Capital cost estimates and funding models for the project will be prepared as part of the feasibility study which will be used to inform a reserve declaration." Copper Mountain Mining’s feasibility work pointed to an $836 million development including a processing plant expected to process 11.4Mtpa. The project has an environmental authority in place, however Harmony will require permit amendments to accommodate its proposed power and water solutions and project configuration. Final investment decision 2025 Commenting in Harmony's operational update for the nine months to March 31, Mr Steenkamp said the company expected the approvals process to take until late next year. It would then consider its final investment decision. Eva Copper was recently declared as a prescribed project. This priority status means the Queensland Coordinator-General can work with local governments and regulators to help it progress. Related: State smooths path for Eva mine, Townsville plant With the company's ambition of being net carbon zero by 2045 in mind, Harmony has included renewables in the proposed energy mix at Eva Copper in anticipation of future grid connection as part of the CopperString project. Mr Steenkamp said determining a sustainable primary water supply for the project had required an extensive program of drilling, pump test work, and modelling that was due for completion by the end of 2024. "The study has indicated a potential water source on the mining lease that may support a proposed increased processing rate and production profile at Eva Copper," he said. Early site works planned In addition to ongoing feasibility study work, Mr Steenkamp said some initial site preparatory works had been commissioned. These would continue in the coming months to improve and de-risk access to the site, support and de-risk drilling efforts on site, and prepare the site for the construction phase, he said. The proposed works include site access roads, temporary accommodation facilities and associated services and infrastructure, fencing and lay-down areas. An extensive resource drilling program was initiated in March 2023 and is ongoing, with more than 70,000m drilled to date. Mr Steenkamp said the drilling had added to the project’s resource base and increased understanding of the project area’s geology, geohydrology, metallurgy and geotechnical composition. It also demonstrated good prospectivity, including potential for life-of-mine extension Harmony has significantly increased the copper and gold mineral resource since the acquisition. It stands at 354Mt at 0.42 per cent copper for 1492Kt of copper and 184Mt at 0.07g/t gold for 431Koz of gold. Life-of-mine all-in-sustaining cost is anticipated to be in the second quartile of the industry cost curve. You may also like: https://industryqld.com.au/full-steam-ahead-for-dianne-copper-mine-plans

Harmony flags capacity boost as Eva studies progress

Industry Queensland

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