Achatayhua Metals Peru ( AMP ) , a company incorporated in Peru has spent several years and over one million dollars developing concessions in the Iron/Copper/Gold belt of Southern Peru. This has involved mining experts’ studies in geology, geophysics, metallurgy, processing and logistics. All these studies are available.
The result of those studies are the conclusion that the “Achatayhua” project, on 3000 ha of leases near Chala, has the potential to become a huge and low cost Magnetite producer with a strong possibility of a substantial secondary line of income from Copper/Gold concentrate.
The unique geography of the location means it appears feasible to generate all the mine’s power requirements by generating electricity from gravity, as we move the metals from their 3800 m elevation down to sea level for export. This mean this mine could be the world’s lowest carbon emissions high volume iron/copper/gold producer.
Optimum production at 20 Mtpa 65% Fe iron concentrate and estimated 250 Ktpa copper concentrate will require a significant investment but will have an Opex from Mine to Mill of around $35/t basis Nth Asia delivery. However, a smaller scale, pilot project of 3 Mtpa could be initiated within 3 years at a Capex around $25 Million and an Opex North Asia of around $50/t.
We are now seeking an investment partner; active or passive, to enable AMP to undertake an initial drilling program, additional exploration work and engineering studies to pre-feasibility level and to secure the tenements. This work will take about 2 years from when the Pandemic lockdown eases. A budget amount of $6 Million is estimated to undertake a comprehensive PFS including a maiden Jorc resource and preliminary environmental studies aiming towards a 2024 commencement of small scale production.