Project Overview
Owned and operated by Origin Mining, a subsidiary of Waterton Copper LP, Mineral Park is a copper-molybdenum-silver mine that has had a long history of mining and is located in north-west Arizona, 18 miles north of Kingman. The Mineral Park restart project, entails the refurbishment, upgrade, and restart of the existing Mineral Park copper and molybdenum mine and concentrating facility.
Mineral Park is a copper-molybdenum (Cu-Mo) porphyry deposit located in the Cerbat Mountains within the central portion of the Wallapai mining district in northwestern Arizona. Mineralization occurs in several styles and phases with Cu, Mo, and Ag hypogene mineralization being the earliest phase as stockwork-vein and disseminated styles. Polymetallic (Zn-Pb-Cu-Ag) subvertical, veins crosscut the early hypogene mineralization. Mineralization is overprinted by development of leached cap, oxide, and supergene enrichment horizons.
The Mineral Park open-pit mine is a brownfields operation that will benefit from pre-developed phases and ore exposure, eliminating the need for pre-stripping. The mine schedule extends for 12 years at an average mining rate of 53 kton/d.
The Mineral Park operation currently consists of an operating heap leach producing Cu cathode, and a Cu and Mo sulfide concentrator. A new fully refurbished process plant with new SAG mills and flotation cells with a capacity of 16.5 Mtpa is being constructed. It is expected that heap-leach activities will cease once the concentrator operation restarts. The restarted Mineral Park concentrator will utilize a conventional flowsheet to produce separate Cu and Mo concentrates.
Stream Details
| Date of Contract |
24-Oct-23 |
| Term |
Life of Mine |
| Stream |
100% of silver |
| Upfront Consideration |
$115M |
| Per Unit Production Payment |
18% of spot until upfront deposit repaid, 22% of spot thereafter |
| Cost Quartile |
Third |