BASE METALS

Altiplano starts El Penon operations

Altiplano begins operations of El Penon copper-gold-iron processing facility in Chile

 Altiplano, Chile

Altiplano, Chile

Altiplano president and CEO Alastair McIntyre said the facility was completed within the company's financial expectations while it did encounter several timeline challenges amid the Covid-19 pandemic.

The El Penon processing facility is about 15 kilometres from Altiplano's Farellon copper-gold mine near La Serena.

"Processing of stockpiled material currently stored at the El Penon site has begun as a part of the commissioning of the plant, with the first concentrate expected to be produced for shipment in July," the company said.

Altiplano plans to split ship production from Farellon to the facility and ENAMI for the next few months to maximize copper sales while the plant ramps up to full capacity.

The facility has a capacity to process 5,000t/month of Farellon ore.

The operation of the new plant should enable Altiplano to cut trucking costs by 75% and processing costs by 45% while recovering additional payable metals, it said.

Altiplano's share price was C$0.23 (US$0.18) on June 23. The company has a market capitalization of C$26.11 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.