Rosemont-Copper

Project Development & Permitting

2013

  • The U.S. Forest Service has completed Rosemont's final Environmental Impact Statement in November 2013 (www.rosemonteis.us/final-eis) and issued the draft Record of Decision in December 2013. The final Record of Decision along with the Clean Water Act permit, the last remaining permit, is expected in the second quarter of 2014.
  • Currently the project has received the following permits and approvals: Air Quality Permit, Aquifer Protection Permit, Construction Storm Water General Permit, Agriculture Land Clearing Permit, Air Activity Permit, Air Quality Permit, Groundwater Withdrawal Permit, Type 2.02 and 3.03 General Aquifer Protection Permits, Arizona Mined Land Reclamation Plan Approval, Hazardous Waste Identification Number, Certificate of Environmental Compatibility and Encroachment Permit.

2011 & 2012

  • U.S. Forest Service published Rosemont Copper's Draft Environmental Impact Statement and issued the Notice of Availability in October 2011 starting the public comment period which concluded in January 2012 
  • Completed an update to Rosemont's Feasibility Study which was based on the preferred alternative selected by the USFS and included updated capital cost estimates, increased production and a new reserve and resource estimate 

2010

  • Draft of the Environmental Impact Statement delivered to the US Forest Service, Coronado National Forest, by the Environment Impact Statement contractor SWCA of Tucson, Arizona, for internal review.
  • Entered into a Joint Venture Agreement with Korean Consortium consisting of Korea Resources (KORES) and LG International for 20% joint venture interest in Rosemont. Cash injection of US$176 million ($70 million for development pre-construction and US$106 million for construction) in addition to off take agreement for 30% of copper concentrate and 20% of copper cathode and molybdenum concentrates.
  • Entered into agreement with Silver Wheaton to purchase Rosemont's life of mine gold and silver production for cash injection of US$230 million. Represents 25% of total project capex for less than 4% of annual revenue.
  • Placed order for 14 Eimco AFP Mark IV tailings filter presses from FLSmidth for US$31 million. These will be used to filter the tailings slurry to 16% moisture. The filtered solids will then be transported via conveyors to the dry stack tailings facility.
  • Incorporated the construction work packages (CWPs) into the overall project schedule.

2009

  • Completed updated Feasibility Study in January 2009.
  • Signed agreement for purchase of 23, 250-ton Caterpillar 793F haulage trucks from Empire Southwest LLC in Mesa, Arizona. Contingent with the agreement both parties agreed on a term sheet for a capital lease of the Caterpillar trucks and other related equipment for an amount up to US$100 million. The contract value between Rosemont and Empire is approximately $82.2 million for the purchase of the 23 trucks.

2008

  • Signed US$29 million contract with Polysius Corp. for the purchase and delivery of a 36ft x 17.5ft EGL (effective grinding length) SAG and two 26ft x 40ft EGL ball mills, placing a sizeable deposit on this contract commitment in Q108.The Company was successful in negotiating improved financing and delivery terms from those estimated in the bankable feasibility study published in August 2007, and was pleased to complete this critical path milestone with an overall positive impact on the project schedule.
  • Entered into a US$42 million contract with ABB Switzerland Ltd. for the supply of three gearless mill drives in Q208. ABB's scope of supply includes a 16 MW gearless mill drive system for a 36' diameter SAG mill and two 16MW gearless mill drive systems for 26' diameter ball mills.
  • Awarded US$56 million agreement for the engineering, procurement and construction management ("EPCM") contract with M3 Engineering & Technology Corporation for the development and construction of the Rosemont project in Q208. M3 completed the bankable feasibility study for Rosemont in August 2007, so the Company was pleased to be able to move forward with M3 to commence design engineering.
  • Awarded $8.6 million contract to Sandvik for primary crusher and $65 million contract to Bucyrus International for three 495HR mining shovels.
  • Continued to build the project development team, appointing Rod Pace as Vice-President, Operations, Kathy Arnold as Director of Environmental and Regulatory Affairs, Fermin Samorano as Mine Manager, and Buck Andrews as Controller. 
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