Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Teck Resources is still mulling over the sale of its stake in Zafranal, the copper and gold mine in Peru.  


Speaking at a conference on Tuesday, Don Lindsay, chief executive officer at Teck noted that the company was still deciding whether it should keep looking for a partner for further development of the mine or sell it.  


Zafranal is expected to produce an average 125,000mt of copper per year in its first five years of operation, with an initial capex of $1.23bn.  


The mine is located in southern Peru’s copper belt between the provinces of Castilla and Caylloma, in the Arequipa region.  


According to Teck , the Peruvian development has proven reserves of 408.8mn mt, plus another 32mn mt probable, with a minimum life of 19 years.  


The Canadian miner owns 80pc of Zafranal and the remaining 20pc is owned by Mitsubishi Materials Corporation.

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