Freeport sees first copper, gold production from Big Gossan 2008
Wednesday, September 21 2005 - 08:14 PM WIB
According to the paper presented by the company at a mining conference in Jakarta, first production would be achieved in 2008 and the mine would last for 20 years. Over the life of the mien, the Big Gossan mine will produce about 2.3 billion pounds of copper and 1.1 million ounces of gold with average annual production of 135 million pounds of copper and 65,000 ounces of gold. As comparison, PT-FI expected its sales for 2005 to approximate 1.5 billion pounds of copper and 2.9 million ounces of gold.
Engineering design is based on a diluted reserve of 44 million metric tones of ore grading 2.5 percent copper and 1.2 gpt gold and 17gpt silver.
Over the four-year period starting 2006, PT-FI would spend US$225 to develop the mine.
?The Big Gossan mine will be a key addition to the operating miens, especially when the Grasberg open pit complex closes in about 2015. Although small in tonnage at 7,000 mtpd, the grade is more than double than that of the average block cave mine, so will contribute significantly to annual metal production,? the paper says.
The paper said that Big Gossan was significant to the company because it marked a new milestone in the company?s mining operations as the first in ?underground Era? of PT-FI?s Erstberg district operations, marking the sunset period of open pit operations at Grasberg and would gradually be replaced from underground operations. ?Following Big Gossan will be the development of very large scale underground operations including the Grasberg Block Cave, Kucing Liar Block Cave , MLZ and Deep MLZ Block Cave Mines.?
PT-FI operates one of the world?s copper and gold mining complex in the easternmost province of Papua. (alex)