Near-Term Phosphate Production in Northern Peru
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CROPS Inc (TSXV:COPS) is a pre-production mining company focused on developing its flagship Bayovar 12 sedimentary phosphate project located in Northwestern Peru. The Bayovar 12 project is located in the Sechura Basin which has one of the world’s largest fertilizer companies producing Rock Phosphate for the off-shore market. The Miski Mayo mine is only 15 kilometers from CROPS’ deposit and Bayovar 12 sits only 40 kilometers from the nearest sea port, positioning CROPS favorably for export to international markets.
From the updated prefeasibility study (PFS) released in May 2016, the Bayovar 12 project hosts a proven and probable reserve of 58.8 million dry tonnes of ore at an average grade of 12.94 percent P₂O₅. These reserves have a minimum 20-year mine life, delivering 1 million tonnes of 24 percent to 28 percent P₂O₅ annually. The PFS also outlined an after-tax IRR of 26.3 percent and an NPV (7.5 percent) of $458 million.
- Flagship project located in highly rated jurisdiction for mining investment: Peru
- Bayovar 12 project within 15 kilometers of currently producing mine
- Two thirds of the property remain unexplored to date
- Deposit sits at surface and amenable to open pit free digging
- Variety of product end-uses in various industry segments including fertilizers, elemental phosphorus and life science applications