TECK - Teck Resources secures Peru regulatory approval for Zafranal copper project
2023-05-12 15:53:34 ET
Teck Resources ( NYSE: TECK ) said Friday its Zafranal copper project in Peru received regulatory approval , advancing the project toward a potential formal sanction decision as early as H1 2024.
Teck ( TECK ) describes Zafranal as a mid-sized copper-gold development project located in southern Peru's porphyry copper belt; the company owns an 80% stake, with Japan's Mitsubishi Materials ( OTCPK:MIMTF ) holding the remaining 20%.
The mine and concentrator are expected to produce 133K metric tons/year of copper contained in concentrate during its first five years.
Zafranal has an expected mine life of 19 years and will produce copper-gold concentrates through an open-pit mining and conventional concentration process.
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Teck Resources secures Peru regulatory approval for Zafranal copper project