A recent article by Proactive Investors highlighted Avanco Resources Limited (ASX:AVB) as a beacon in the current resources sector, producing first copper concentrates from the Antas development in Brazil.
As quoted in the article:
Commissioning of the fully integrated plant is on schedule before the end of March while a watershed first shipment of copper concentrate is targeted for April. After commissioning, the project is estimated to initially produce 12,000 tonnes per annum of copper and 7,000 tonnes per annum of gold for the next 7 years.
As impressive, the company has been successful in obtaining funding for Antas into production via equity, and remaining debt and covenant free. Antas will produce desirable clean copper concentrates, and retain ownership to the rights for its production off-take with concentrate offtake contracts in the final stages of negotiation.
- The “running-in” of the Ball Mill under the supervision of Metso continues.
- Ramp-up to ~65tph (i.e. the hourly annualized rate equal to ~500,000tpa and the planned production throughput rate for 2016) is targeted before end of month.
- The 10 metre diameter slurry tank (receiving mill cyclone overflow) situated alongside the mill is functioning well. This tank eliminates surges from the grinding circuit facilitating steady feed conditions to flotation.
- In the flotation area, the Outokumpo Rougher cells and Scavenger cells and tailings pumps are now operational and performing well.
- The flotation Cleaner Circuit, including the Cleaner cells, the Cleaner Scavenger cells and associated pumps have been commissioned and are operating well.
- The flotation reagent dosing system is fully functional.
- Final copper concentrate generated by the “Re-Cleaner” flotation cells have returned assays
- 28% copper, confirming that Antas ore responds well to flotation and the quality of concentrate production meets commercial specifications.
- Routine metallurgical sampling, reporting and controls have commenced