Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - Battery Mineral Resources Corp. (TSXV: BMR)(OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce a second shipment of copper concentrates related to the Offtake Agreement (or the "Agreement") with Anglo American Sur. S.A. ("Anglo" or "Anglo American") a division of Anglo-American PLC.
The Company has supplied 751.65 dry metric tonnes ("DMT") of copper concentrates to Anglo's Chagres smelter in Catemu, Chile. The copper concentrates were produced from copper smelting by-products (slags) supplied to BMR by Anglo. The copper concentrates were produced at BMR's Punitaqui copper flotation plant and contained 24.22 percent copper, for approximately 410,348 pounds of copper in concentrate.
Martin Kostuik, Chief Executive Officer, stated, "This second copper concentrate shipment marks another significant stride towards positive cash flow, in line with Battery's goal ofbuilding a mid-tier copper producer. In the near term, copper sales are projected to include material sourced from Punitaqui mine operations as well as from additional third parties. As we endeavor to generate consistent cash flow from copper sales, BMR is in a favourable position to provide shareholders accretive exposure to a very healthy copper marketplace, now and in the years to come."
The results for the month of July total 1,255 DMT of copper concentrate delivered for smelting. The Company is on track to increase production results with a goal of delivering approximately 1,400 DMT of copper concentrates per month in the near term and reaching up to 2,800 DMT of copper concentrate production per month by year-end.
The Company initiated copper concentrate production on May 13th, 2024 after the successful commissioning of the recently refurbished and upgraded mineral processing facility at Punitaqui. Mining activities are focussed on establishing access to the mineralized zones in both Cinabrio and San Andres. Activities continue to ramp up with both mines providing increasing amounts of stockpiles containing fresh mill feed. Cinabrio is the original mine that supplied mill feed for the first 10 years of prior operations, primarily operated by Glencore PLC.
About Battery Mineral Resources Corp.
Battery Mineral Resources' mission is to build a mid-tier copper producer and has recently initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. Battery Mineral Resources is unique because it leverages the inherent value from its 100% owned subsidiary, ESI Energy Services Inc., a renewable energy equipment rental and sales company. The Company's portfolio also consists of two cobalt assets and one lithium asset located in North America and two graphite assets in South Korea. The Company is focused on providing shareholders accretive exposure to copper and the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favorable mining jurisdictions.
Martin Kostuik, CEO
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Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.
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