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Freeport Commences Internal Project Optimization Review for Yandera Copper Project, One of the World's Largest Undeveloped Copper Projects and Announces Private Placement
While Freeport Continues Discussions with Strategic Partners to Advance its 100%-Owned Yandera Pr...
About this update from Freeport Resources Inc.
[{"type":"text","content":"Freeport Commences Internal Project Optimization Review for Yandera Copper Project, One of the World's Largest Undeveloped Copper Projects and Announces Private PlacementWhile Freeport Continues Discussions with Strategic Partners to Advance its 100%-Owned Yandera Project, it has commenced an Internal Project Optimization Review. The Review will Seek to Optimize the Project's Economics, Including via possible use of New Breakthough Direct Sulphide Leaching Technologies to achieve significant Capex/Opex reductions.Copper Prices broke $9,000/t ($4.00/lb) in recent weeks as demand for copper undergoes an unprecedented structural change driven by the global energy transition.Proximity to Asia, the world's largest copper refiner and consumer, positions the Yandera Copper Project as an attractive potential long-term source of copper supply. Vancouver, British Columbia--(Newsfile Corp. - April 4, 2024) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) (\"Freeport Resources\" or the \"Company\") is pleased to announce that, with the recent Yandera license renewal through 2025, the Company has commenced an internal project optimization review while discussions continue with potential strategic partners to advance the Yandera Copper Project to Definitive Feasibility Study. \"There have been a number of new breakthrough advances in low-cost, direct sulphide leaching technologies since the Yandera Pre-Feasibility Study was completed in 2017. These new technologies allow for direct sulphide leaching at the mine site to produce a final copper cathode product, thereby eliminating the need for a costly concentrator and its attendant operating and transportation costs. The potential capital, operating and transportation cost savings are significant and could further strengthen the project's economics and attractiveness to potential strategic partners,\" commented Mr. Gord Friesen, Chief Executive Officer, Freeport Resources.\"While there already exists strong interest by strategic partners in Yandera driven by copper price's move above $9,000/tonne and announcements by Chinese smelters of curtailed output due to shortages of copper concentrates, further improvements in the project's economics would be a win-win for all parties, including shareholders. Yandera is one of the world's largest undeveloped copper projects and ranks as th...