お知らせ • Dec 12
Freeport Resources Inc. Announces License Renewal for Yandera Copper Project
Freeport Resources Inc. announced Papua New Guinea's Minister for Mining, the Honorable Sir Ano Pala, has approved the renewal of the Yandera Copper Project's Exploration License 1335 (EL) through November 19, 2023, in accordance with the regulatory processes prescribed by the Papua New Guinea (PNG) Mining Act. Yandera - Definitive Feasibility Study: License EL 1335 covers the 245.5 square kilometer (km) tenement comprising Freeport Resources' wholly-owned Yandera Copper Project. Approximately $200 million in exploration and development expenditures have been spent on EL 1335 since 2005. Work completed and studies funded to date include approximately 154,600 meters of exploration drilling, the vast majority of which has focused on the Yandera Central deposit, as well as scoping studies, engineering studies, environmental studies, a Pre- Feasibility Study, and infrastructure-related studies. The renewal of EL 1335, through November 19, 2023, allows Freeport Resources to commence work on a Definitive Feasibility Study to advance the Yandera Copper Project toward a Final Investment Decision. Concurrent with the Definitive Feasibility Study program, Freeport Resources will accelerate ongoing discussions with key international strategic investors and prospective partners for development of the Yandera Copper Project. Demand for copper is forecast to undergo unprecedented structural change driven by the global energy transition with mined copper supply forecast to enter a deficit position starting as early as 2025 (see Copper Demand Chart below). The project's proximity to Asia, the world's largest consumer of copper metal, positions the Yandera Copper Project as an attractive new source of long-term copper supply. The Definitive Feasibility Study will build on earlier work undertaken with local and regional communities to determine opportunities to achieve mutually beneficial partnerships and sustainable long-term social benefits related to job creation, indigenous advancement, health and wellness, environment, education and community development. Freeport Resources is also planning a wider exploration program of porphyry copper targets within the largely underexplored 245.5 square kilometer land package. The Yandera Copper Project is located in the highly prolific PNG Orogenic Belt, the same geological arc as some of the world's largest gold and copper deposits including Grasberg, Frieda River, Porgera, Lihir, Wafi- Golpu and Kainantu. Yandera is a project of strategic national interest in PNG and has the potential to become one of the country's most significant copper mines. The Yandera Copper Project is 95-km southwest of the capital city of Madang Province and 235-km to the northwest of Lae which is the largest port city in PNG and an important industrial center. As one of the largest undeveloped copper resources in the world, the Yandera Project has the potential to support communities and create jobs along the Yandera Corridor. The Company anticipates the potential economic influence of the Yandera Copper Project could span 5 provinces and create wealth for generations including, but not limited to, strategic road and highway building, power generation and related infrastructure. A Preliminary Feasibility Study titled, Independent Technical Report on the Yandera Project - Pre- Feasibility Study, prepared by Worley Parsons, with an effective date of November 27, 2017, estimated a historical open-pit, measured and indicated resource of 728 million tonnes grading 0.39% copper equivalent.