Re: Quellaveco vs Schaft Creek
in response to
by
posted on
Feb 18, 2012 09:49PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
Even this 18% caused a bidding war amongst the Japanese:
http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=145579&sn=Detail&pid=102055
''Mitsubishi Corp said on Monday it had bought an 18 percent stake in Peruvian copper project Quellaveco, a hotly contested asset among Japanese trading and mining companies''
''Japan's largest trading house outbid JX Nippon Mining and Metals Corp, the parent of Japan's biggest copper smelter Pan Pacific Copper, Mitsui & Co and one other Japanese trading company, an industry source said.''
Elmer could always ask the loosing bidders to come and see us once Teck has finished playing around..
But then again he has said many times that the Koreans are waiting, the Indians are waiting, the Chinese are waiting...