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Metminco chief: Los Calatos plan set to speed up talks with project partners

William Howe, managing director of Metminco (LON:MNC), says a new plan to develop its Los Calatos mine in Peru should speed up talks with potential project partners over the coming months.

“We’re looking to formalise talks over the next through weeks and months. Site visits should take place soon allowing the interested parties to compete their due diligence reports.”

Under revised plans, Metminco would mine 134.4mln tonnes of ore grading 0.89% copper and 0.036% molybdenum.

That would in turn lead to production of 50,000 tonnes of copper in concentrate per year on average, or a total production over the life of the project of 1.1mln tonnes – giving the project net present value (NPV) to US$447mln.

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