Australian explorer Coda Minerals has approved the immediate start of prefeasibility study work after a scoping study presented a financially robust case for its 100%-owned Elizabeth Creek copper-cobalt project in SA’s OIympic Copper province.
The study outlines the development of two openpits and an underground mine to produce about 25,000tpa Cu and 1,000tpa Co at 1.86% CuEq over 14 years.
Estimated pre-production capex for the 2-stage development is $277M for initial Cu-Co concentrate production to drive early cashflow and $320M to construct an Albion Process hydrometallurgical plant to produce copper cathode, battery-grade cobalt sulphate, zinc carbonate and silver doré.