EduBourseActualitésXstrata Copper announces further Mineral Resource increase at El Pachón project in...

Xstrata Copper announces further Mineral Resource increase at El Pachón project in Argentina

Xstrata Copper today announced a significant increase to the Mineral Resource estimate at our El Pachón project in San Juan Province, Argentina.

Total Mineral Resources have increased to 3.3 billion tonnes at a grade of 0.47% copper, using a cut-off grade of 0.2% copper, and include additional silver and molybdenum by-product credits. This represents a 20% increase compared to the previous mineral resource estimate published in December 2011. Total contained copper metal has increased by 16% to 15 million tonnes.

The new estimate is the result of the remodelling of the deposit including additional drilling from prior drilling campaigns not previously accounted for and the use of new geotechnical, metallurgical and economic parameters developed as part of the project’s final feasibility studies.

El Pachón is a major long-life development project with the potential to initially produce 400,000 tonnes of copper per annum. During the remainder of the year, we will continue to update the project’s final feasibility and environmental impact studies taking into account these new Mineral Resources.

* The Mineral Resources are reported in accordance with the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (2004). During the 2010-11 drilling program a total of 56,000 metres of infill and step-out drilling were completed. Mineral Resources stated herein are based on assay and geology information from 126,000 metres of mainly diamond drill holes. Differences in the Mineral Resource in relation to previous statement are due to the incorporation of over 6,000 metres of new infill and step out drilling from the 2010-2011 and 2011-2012 drilling campaigns that have been included in this Mineral Resource update. Mineral Resources have been classified using a combination of criteria including geological continuity and Kriging parameters, the most influential being the drill hole data density variation when compared with the last estimate. Mineral Resources are constrained by the use of an economic pit shell determined using Measured, Indicated and Inferred Resources and current assumptions for the economic and updated modifying factors including long term metal prices, mining and processing cost and metallurgical recovery modeling conditioning the Resource pit geometry. Numbers may not be exact as they are rounded for tabulation.

The information in this press release that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Raul Roco, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr. Roco is a fulltime employee of the company. Mr. Roco has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Roco consents to the inclusion in the press release of the matters based on his information in the form and context in which it appears.

End

Neither the content of the company’s website nor the content of any other website accessible from hyperlinks on the company’s website is incorporated into, or forms part of, this announcement
Xstrata Copper contacts:

Emily Russell
Telephone: +562 478 2204
Mobile: + 569 9443 3571
Email: [email protected]
Carolina Laumann
Telephone +54 264 430 9300
Mobile +54 9264 523 5932
Email [email protected]

www.xstratacopper.com

Notes to editors

About Xstrata plc

We are a major producer of a range of vital commodities used in everything from constructing buildings and delivering electricity, to developing jet engines and mobile phones. We are one of the top five global producers of copper, thermal and metallurgical coal, ferrochrome, zinc and nickel and we also produce silver, lead, platinum, gold, cobalt and vanadium.

Founded in 2002 and headquartered in Switzerland, we operate in over 20 countries and employ over 70,000 people at more than 100 operations and projects around the world. We work in a responsible and sustainable way, with an entrepreneurial spirit and dynamic approach. For more information, visit www.xstrata.com

About Xstrata Copper

We are the fourth largest global copper producer and one of the world’s largest producers of smelter, refined and recycled copper, including from third party materials. The copper we produce is essential to our modern society, being used extensively in electronic, consumer and building products, and with its use in green-technologies, anti-microbial applications and ability to be recycled, it is playing a vital role in our sustainable future.

Headquartered in Brisbane, Australia, we have operations and projects in eight countries and employ over 20,000 people. We play an essential role in the communities in which we live and work, by providing jobs, training, infrastructure, income for suppliers and support for social development. For more information, visit www.xstratacopper.com

About El Pachón Project

Our El Pachón Project is a copper and molybdenum deposit located in the San Juan Province of Argentina. Situated at an altitude of between 3,600 and 4,200 metres above sea level, El Pachón lies approximately five kilometers from the international border with Chile.

Our proposed mining operation comprises an open pit mine located in San Juan Province and associated infrastructure, including a concentrate pipeline, filter plant, port and load-out facility, in the Coquimbo Region of Chile. During the remainder of the year, we will continue to update the project’s final feasibility and environmental impact studies taking into account these new Mineral Resources.

If developed, we believe El Pachón would create a valuable legacy for the communities in which we live and work. We are committed to engaging with all our stakeholders openly and transparently and to forming genuine alliances with local communities hosting our operations. For more information please visit our website www.elpachon.com.ar

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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