Bezant Resources PLC, a company specializing in copper-gold exploration and development based in the United Kingdom, found alternative ways to lower cost production in its Mankayan mine site in Benguet.
The mining company conducted a study through independent consultants Mining Plus Pty Ltd which showed that the Mankayan copper-gold project’s porphyry is capable of supporting different tough ways of development such as sub-level caving scenario that can possibly be used in the future.
Selected to undergo further evaluations in the study are four different options all of which have an estimated five-year timeline to initial production. From these options, two scenarios are preferred by Benzant Resources.
Said scenarios involve lower start-up costs. A medium production rate giving a project value of US$ 1.18 billion is one of these Bezant Resources preferred scenarios. The second one offers a lower start-up cost with a project value of US$ 797 million maintained by increasing production rate after the first footprint.
“Mankayan is a major, well delineated copper-gold porphyry style deposit and this latest Mining Plus study serves to demonstrate potential robust development options able to sustain an average mining grade above 0.64% copper equivalent at average costs below USD20 per ton,” said Laurence Read, Chief Executive Officer of Bezant Resources.
Read also added that Mankayan will undergo full block caving after the identification of a sub-level caving route. This, combined with new sequencing work, will allow Mankayan to achieve first revenues earlier for significantly reduces start-up capex.
