Our Projects

• Location: Chañaral, Atacama Region, Chile
• Area: 15.25 km2
• Distance from Santiago: 775km

• JORC 53mt @ 0.24% Cu (126kt Cu Metal) plus significant non-compliant resources
• DFS completed in 2017 and optimised in 2018
• To be mined using an electric single wheeled suction dredge
Ore processed via leaching, SX-EW and flotation targeting 
5mtpa ore processed (~14,000 tpd) with 72% Cu recovery
(59% cathode and 13% to concentrate)

• 100% owned by Copper Bay corporate structure
• The project comprises a total of 8 licenses, most of which fall within the maritime access zone

Project will initially target the beach accumulated copper Tailings

• 27% Chile corporation tax
• Corporate withholding tax an additional 8% on dividends
• No royalties Payable

• Tails accumulation ceased over 40 years ago, the beach and sub-sea environment has been weathered and winnowed by wave, chemical and wind action
• Significantly, much of the Copper Sulphide mineralisation has oxidised, especially in the upper parts of the deposit, making it amenable to leaching
• Tailings of up to 14m in thickness overlay the original beach, with a transition layer comprised of tailings mixed with original beach material
• Mineralisation reflects original Potrerillos and Salvador ore, albeit with significant amount of Cu and Mo removed and process chemicals added
• Principal copper-bearing minerals are chalcopyrite, bornite, covellite, chalcocite, malachite, chrysocolla and brochantite

• Resource covers the beach as well as portion of surf zone inferred from 2008 bathymetry survey and drilling at beach/surf contact
• Estimates based on 303 wells all drilled on beach by BRGM, Pucobre and Copper Bay, as well as a total 2,612 samples
• Estimated from DFS and CPR prepared in accordance with JORC Code (Cube Consulting)
• Substantial non-compliant resources in surf and bay zones could potentially increase life of project, contingent on modified EIA and maritime access
• Non-compliant offshore resource of 121mt @ 0.19% Cu, containing some 230kt of Cu, estimated Copper Bay

• Chañaral Bay is described by the UN as one of Pacific’s most serious cases of pollution; copper is a biocide and its removal through the project will encourage the return of sea life in the area
• Copper Bay has prioritised its stakeholder engagement programme and has connected with local & regional authorities as well as leaders of the community, including multiple meetings held over several years

• Local town will benefit from the return of a useable beach for recreational and economic activities following the completion of re-processing activities and significant reduction in arsenic content on the beach
• Creation of jobs adjacent to a town with a workforce well skilled in mining and mineral processing operations
• March 2025 the Ministerial Committee met and approved the EIA for the development project