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Marimaca Copper Corp T.MARI

Alternate Symbol(s):  MARIF

Marimaca Copper Corp. is a Canada-based exploration and development company focused on base metal projects in Chile. The Company’s principal asset is the Marimaca Copper Project, located in the Antofagasta Region of northern Chile. The Marimaca Copper Project is situated at a low altitude in Chile’s Coastal Copper Belt, 25 kilometers (km) east of the port of Mejillones and 45 km north of Antofagasta, Marimaca has access to water and power, road and rail networks supplying sulphuric acid and other consumables, as well as deepwater ports. The Marimaca Copper Project comprises a set of concessions (the 1-23 Claims), properties 100% owned and optioned by the Company, combined with the adjacent La Atomica and Atahualpa claims, over which Marimaca Copper has the right to explore and exploit resources. The Company also has an option agreement to acquire the Pampa Medina project (Pampa Medina), which consists of four mining concessions totaling 144 hectares.


TSX:MARI - Post by User

Bullboard Posts
Post by Oregonduckon May 13, 2017 3:05pm
120 Views
Post# 26240979

Takeover happening in Chile

Takeover happening in Chile
TORONTO/LONDON -- "Canada's Teck Resources (TECKb.TO 1.85%), Lundin Mining (LUN.TO 1.74%) and HudBay Minerals (HBM.TO 1.86%) are among a number of suitors that have submitted bids for BHP Billiton's (BHP.N) Cerro Colorado copper mine in Chile, people familiar with the matter said. The Anglo-Australian miner expects the asset to fetch as much as US$800 million, the people said, declining to be named as the process is private"...From what I gathered, Cerro Colorado is a SxEw operation in the north of Chile. Upon inception in 1994, the project had comprised a 10kt/d leach operation to produce 40kt/a cathodes. The capital cost to develop the project was US$230 million. Capacity was increased to 60kt/a in 1995 at a further capital cost of US$59 million. (Source BNN News)... Coro Mining with 20 kt/a mill will be about 1/3 the size of Cerro. It has bought the Ivan mine on the cheap as that Peruvian miner put it on care and maintenance probably due to the lack of ore to feed its Ivan processing facility. Capex or Capital costs for a similar facility would be in the range of hundreds of millions.
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