The Altar copper project, located in San Juan Province and operated by Aldebaran Resources, has released the results of its Preliminary Economic Assessment (PEA), prepared in accordance with National Instrument 43-101 standards. The report provides an initial view of the deposit’s economic and operational potential, based on a mixed mining operation and a production horizon spanning nearly half a century.
By Panorama Minero
The assessment considers a concentrator plant with a processing capacity of 60,000 tonnes per day, sourcing ore from both open-pit and underground operations. The development plan prioritizes higher-grade zones in the early years to maximize initial cash flow, while advancing underground infrastructure in parallel.
According to the figures released, the project features a 48-year mine life with an average annual production of 101,413 tonnes of copper equivalent. Over the first 20 years, average annual output is projected at 121,445 tonnes of copper equivalent, along with 43,199 ounces of gold and 570,217 ounces of silver per year.
Key Economic Metrics
Based on metal prices of US$4.35/lb Cu, US$2,500/oz Au and US$27/oz Ag, the project yields a post-tax NPV (8%) of US$2.0 billion, with an IRR of 20.5% and a 4-year payback period.
Initial CAPEX is estimated at US$1.59 billion, with a staged approach for tailings storage facility construction and underground development.
Aldebaran Resources holds an 80% interest in the project, while the remaining 20% is held by Sibanye-Stillwater. Results are reported on a 100% project basis.
Technology Evaluation
Alongside the base case scenario, the technical team worked with Nuton®—a Rio Tinto venture—to evaluate the application of its sulfide leaching technology. Phase 1 test work showed estimated recoveries ranging from 79% to 84%, depending on material type, presenting a potential pathway to reduce costs and improve environmental performance.
The potential use of this technology could lower both capital and operating costs, increase free cash flow, and align the project profile with higher sustainability standards, the company said.
