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Canadian Ngex Resources Inc. announced yesterday that it wanted to complete the pre-feasibility study of the Josemaría Project, located in the northwest of the province, in the church, in the first quarter of 2019. It deals with the second company which, in less than a month, shows a tendency to extract copper from the soil of San Juan.
In early June, the Australian Fortescue, one of the world's largest iron producers, confirmed to the local government that he was interested in three of the province's five copper megaprojects: El Pachón, Altar and Los Azules. This company is seeking to expand in the market and recently appointed CEO for Latin America and Argentina's ex-president and captain of the Pumas, Agustín Pichot (see separately).
Now the Ngex Mining Company joins, which through a press release revealed A preliminary feasibility study of its project was undertaken, for which it hired two consultants – SRK Consulting and Ausenco Engineering Canada – to complete the report that will evaluate the development potential of an open-pit mine and an adjacent processing plant Josemaría's depot. According to the company, the project could produce an annual average of 185,000 tonnes of copper, 345,000 ounces of gold and 1.2 million ounces of silver during the first five years of production.
Josemaría, according to industry sources, of size equivalent to two Gualcamayo mines, is part of Constelación, an important combined project of the same company, which is considering the construction of a pit mine open on the Argentine side, followed by the underground development of the deposit of Los Helados on the Chilean side. Constellation is the binational project considered the most important in South America up to now, even superior to Pascua Lama. While the latter has an estimated lifespan of 25 years, Constellation has calculated about 50 years of life
The commissioned study, which will determine the potential of Josemaría, is intended to help make the decision on its viability . or not, or on the need for a more detailed badysis. If the company determines that it is feasible, it will seek out investors and support the national and provincial governments, for example, to move forward with the construction of the mine and the stage. of production.
Due to its characteristics, Josémaria It is one of the 10 largest copper projects nationwide, according to a report from the National Undersecretary of Mining Development (see infographic). In this detail, 5 of the deposits are located in San Juan. In addition to Josemaria, Los Azules, Altar, Pachón and Filo del Sol, the Canadian Ngex now wants to specify the amount of resources available and the amount of investment needed to put it into service.
The statement, Wojtek Wodzicki, CEO of Ngex, said: "We are very excited to launch a study which, we hope, will highlight the full potential of the Josemaría project and demonstrate the potential of the project. a direct operation in the open air. "
The director of the Canadian company added that "it is expected that the mine and all related infrastructure will be in San Juan and once the study is completed, we intend to move the project as quickly as possible to permits and development "
An Exploration Company
Ngex is a Canadian mineral exploration company with projects in Chile and Argentina. The company's shares trade on the Toronto Stock Exchange and Nasdaq Stock Exchange under the symbol "NGQ". According to his page, he actively seeks new exploration projects and undertakes exploration at earlier stages in projects with high potential. And now, the main objective is to advance the development of its two large deposits of copper and gold, Los Helados and Josemaría, Chile and San Juan.
Two sanjuanios leave the national positions
After the departure of the ministers Guillermo Cabrera and Juan José Aranguren and the decision that the production zone is left to the strategic ministry of Mines of the Nation, Daniel Meilán will not continue to 39, before the distribution. And who was his right-hand man, San Juan Juan Mario Capello, will not continue and will leave his position as Undersecretary for Mining Development. But he will not be the only native of this province to leave his job, because Alfredo Marún will not continue to lead Inversiones Mineras either.
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