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An initial assessment of the Santa Cruz copper project, located west of Casa Grande, Ariz., shows that Ivanhoe Electric is \u201con the right track\u201d to developing a modern mine that responsibly produces \u201cgreen\u201d copper.<\/p>\n\n\n\n
\u201cThe study provides a first look at our plans for a technologically advanced, underground copper mine in Arizona with attractive economics at today’s copper prices,\u201d said Ivanhoe Electric President and CEO Taylor Melvin.<\/p>\n\n\n\n
\n\u201cWe are designing the project to minimize environmental impact through the use of modern technologies and renewable power. We believe the Santa Cruz copper project will become an industry-leading example of responsibly produced copper in the United States, and a source of high-quality jobs in Arizona during development and throughout its anticipated long mine life.”<\/p>\n<\/blockquote>\n\n\n\n
The initial assessment outlined a potential underground operation with a capacity of 5.9 million tonnes per year, supported by 105.2 million tonnes of modeled mill feed with an average grade of 1.58% copper from the Santa Cruz and East Ridge deposits, resulting in an estimated 20-year mine life.<\/p>\n\n\n\n
A three-year construction period is envisioned to develop the underground workings and build the surface processing facilities. Copper recoveries of 95.4% are expected to be achieved through a combination of solvent extraction and electrowinning (SX\/EW) and conventional froth flotation.<\/p>\n\n\n\n
The assessment estimates initial project capital expenditures of $1.15 billion.<\/p>\n\n\n\n
Santa Cruz is one of Ivanhoe Electric’s flagship projects, alongside the Tintic copper-gold project in Utah.<\/p>\n\n\n\n