A strategic review into the copper assets of ASX-listed Metals X is in its final stages, with the miner on Thursday announcing a A$32-million exploration deal with fellow-listed Independence Group, as well as a scoping study for its Nifty copper operations, in Western Australia.
Metals X in December last year suspended mining operations at Nifty as the mine continued to perform below expectations.
A scoping study was subsequently launched to investigate the development of a major expansion to the historical oxide openpit at the Nifty operation, in order to access and extract the sulphide material.
The now completed scoping study has found that some 23-million tonnes of sulphide feed could be recovered over a mine life of ten years, feeding the existing concentrator.
The sulphide operation is expected to produce between 250 000 t and 270 000 t of copper in concentrate, at an average production rate of 26 000 t/y of copper in concentrate.