Copper Mining Business with a SX-EW plant (JORC certified)

This deposit has been key feeder for the giant Balkhash smelter, responsible for 65% of Kazakhstan’s copper production. Dumps of over 300mln ton accumulated from 40 yrs of operation

Resource Analysis

Wardell Armstrong (MRI, PCR) 2020
During2015-2016 ,the Company undertook exploration:
Reverse circulation(RC)drilling–47holes
SurfacePitting–141
ToePitting–26
more than 900 ore samples

SX-EW plant Results

The pilot plant commissioned in autumn 2017 and produced first copper in November 2017.
Following remedial work on the leaching pad and collection system in spring of 2018, the plant has reached a steady-state production with PLS ERE grcae of 1.5-1.6 g/L, and average daily production of 200 kg of copper cathode
Over 36 tons of cathode copper sold on the local market at near LME prices.
1.2 km electric line fo the site and 630 kW transformer — completed and connected fo local electric grid
400 m access road to the site — completed
1.1 km water pipeline fo the site — completed
Building for the SX-EW pilot plant — completed, insulation and ventilation installed
1 km of piping for the heap irrigation — purchased, connected and laid out
Ponds and collection trenches — completed and lined with geomembrane

SX-EW Business Model

Planned annual production: 10,000 fons of LME grade "A" cathode copper
A 23-year copper production contract with the government of Kazakhstan signed in May 2017.
Key production cost drivers:


Chemicals & Reagents and Power (variable) — favorable geographic location helps keeping these costs low
Labor and Production Overheads (fixed)


Mineral Extraction Tax @ 5.7% on value of copper in PLS
Distribution & Selling — mix of fixed and variable driven by local Infrastructure and T&C of the oft-take contract