In July, TNC announced the commencement of mining activities at Wallace North, one of four open-pit deposits making up CCP. Since July, the Company has mined 223k BCM of overburden, including 22,000t of oxide ore which has been placed on the Wallace North RoM to date.
Transportation of oxide ore from the Wallace North pit to the Great Australia Mine (GAM) crushing facility commenced in September. To date, approximately 8,300t has been crushed and stacked on the leach pad and 2,400t remains available to TNC in the current crushing campaign.
Irrigation of the ore has commenced and will contribute to improved copper production from the Solvent Extraction (SX) plant. This is the first new ore mined by TNC which has been added to the heap leach since the Company commissioned the SX plant in 2023.
TNC has binding offtake and toll milling agreements with global commodity trader Glencore International AG for 100% of copper concentrate produced at CCP and toll milling of up to 1Mt of ore per year3. Under the toll milling agreement, sulphide ore will be transported to a third-party concentrator for toll treatment in Q1 2025.
The Wallace North deposit at CCP has an Ore Reserve totalling 0.7Mt (Probable) grading 1.01% Cu and 0.46g/t Au for 6.8kt Cu and 10.0koz Au2.
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