RE:RE:RE: 5 week haltYes, this seems to be turning out better than I expected when they first announced the aquisition.
Here are some more info on the properties from [url=https://www.glencore.com/dam/jcr:3c05a365-e6ae-4c1a-9439-960249a42e35/GLEN_2020_Resources_reserves_report.pdf]Glencore's 2020 reserves report[/url]
Illapa and Sinchi Wayra
The majority of the deposits within the Illapa and Sinchi Wayra portfolio are epigenetic-hydrothermal base metal type vein and fault-filled mineralization hosted within a variety of lithologies from volcanic tuffs to sedimentary packages. The main mineral assemblages are composed of sphalerite, marmatite, galena, silver-rich galena and silver sulfosalts. The resources are based on multiple structures, Porco containing over 100 different veins, not all
of which are comprised in the mineral resource. The typical dimensions of these structures is over 500m in length and over 450m in depth profile with mineralisation open at depth. Average vein widths are between 0.2 and 4.0m.
The Caballo Blanco operational unit consists of three mines: Colquechaquita, Reserva and Tres Amigos, which supply the central plant, Don Diego, situated close to Potosi. Production for 2020 for each operation was:
- Bolivar: 178kt grading 9.0% Zn, 0.8% Pb and 182 g/t Ag;
- Porco: 82kt grading 8.4% Zn, 0.6% Pb and 67 g/t Ag;
- Caballo Blanco: 202kt grading 7.1% Zn, 2.3% Pb and 256 g/t Ag.
The expected life of the mines as a group, considering current production capacities, is an average of 5 years based on Ore Reserves and 12 to 14 years based on Mineral Resources. The mines use a combination of narrow vein open stoping, cut and fill and mining Shrinkage as the extraction methods. According to the new Bolivian Constitution enacted in 2009, natural resources belong to the Bolivian people. The Bolivian state can enter into mining contracts with private investors to operate them. As with all private investors, Illapa and Sinchi Wayra do
not hold property rights over mining resources in the country, but rather hold the right to exploit them pursuant to Bolivian legislation.
Expiry date of the relevant mining concessions / authorisations or contracts is different for each mine. Porco and Bolivar - July 2028 (joint venture agreement entered into in 2013) and permanent in respect of Caballo Blanco.