Cambior gives green light to Carlota copper project

The Carlota project in east-central Arizona is to start producing copper in the first quarter of 1995, Cambior (TSE) reports after having approved a feasibility study.

Engineering and the construction plans will be virtually finished this year. Assuming that permits and financing are secured in time, construction of surface facilities will begin early in 1994, the company reports. Cambior, a major gold-producer based in Val d’Or, Que., estimates capital expenditures of US$82 million for Carlota.

Cambior, through subsidiary Cambior USA, acquired the 270-claim property, in the Globe-Miami region, in 1991. A 52,000-ft. program has increased proven and probable reserves of copper oxide material to more than 100 million tons grading 0.45% copper (using a cutoff of 0.15%).

An open pit is envisaged, with the ore crushed and heap leached. Solvent extraction-electrowinning would produce copper cathodes.

Seven million tons of ore per year would be mined from three pits at a stripping ratio of 2.1 tons of waste for each ton of ore.

During the first 10 years, annual production is expected to average 30,000 tons copper. Cambior projects an operating cost of US58 cents per lb.