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(Kitco News) - Christian Easterday, CEO & managing director of Australia’s Hot Chili Limited, said Costa Fuego is one of the five largest copper projects that will help copper supply to meet demand by the end of the decade. He said it is also the lowest-capital intensity project in the global copper development pipeline. Cost savings are realized through the property’s low elevation, and the use of seawater for processing instead of fresh water that would have to be desalinated.
Easterday spoke to Kitco at the Rule Symposium Natural Resource Investing 2023 show held in Boca Raton, Florida.
The project on the coast of Chile is the consolidation of two copper-gold deposits, Cortadera and Productora, one of which is a porphyry. Hot Chili (TSX-V:HCH) is working to advance the property through a prefeasibility study, and test several high-priority exploration targets.
Hot Chili envisions increasing copper production from about 100,000 tonnes a year to 150,000, and extending the mine life from 16 years to 23. Easterday said this will depend on whether the Cortadera porphyry deposit can be developed into a single open pit. A prefeasibility study is due out next year.
Kitco Mining’s coverage of the Rule Symposium Natural Resource Investing 2023 was sponsored by G Mining Ventures.
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