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Minerapao Vale Verde & Appian Announce First Blast at Serrote Copper-Gold Project in Brazil

Mining News - Published on Wed, 15 Jul 2020

Image Source: Serrote Copper Gold Project
Mineracao Vale Verde Ltda and Appian Capital Advisory LLP announced first blast and an implementation update for the Serrote copper-gold project located in Alagoas in Brazil. On 20 June 2020 MW achieved first blast at Serrote, marking a major milestone of the open-pit development with the pre-stripping program having now handled over one million tonnes of material. The Company continues to de-risk and progress Serrote to schedule and under budget, with overall project execution tracking at -60% complete. Procurement is approaching the final stages with 96% of key packages by value awarded and start-up expected during H2 2021.

First blast marks yet another significant development milestone following completion of Serrote's previously announced definitive feasibility study, which outlined a conventional, low strip open pit operation producing 2Oktpa of copper equivalent at second quartile costs over an estimated initial mine life of approximately 14 years. The robust project economics outlined in the DFS led to a positive construction decision with Appian funding all of the equity required to bring the asset into production.

Appian also announces support to combat the COVID-19 pandemic in the country.USD 600,000 charitable support package to help combat COVID-19 in Brazil
Mineracao Vale Verde Ltda. (“MW” or the “Company”) and Appian Capital Advisory LLP (“Appian”) are pleased to announce first blast and an implementation update for the Serrote copper-gold project (“Serrote") located in Alagoas, Brazil. Appian also announces support to combat the COVID-19 pandemic in the country.
First blast and implementation update

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Posted By : Yogender Pancholi on Wed, 15 Jul 2020
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