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Marimaca Copper Targeting Industry-Leading Low-Carbon Emissions
VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce res
About this update from Marimaca Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce results from a recently completed study by leading research & consultancy firm, Wood Mackenzie (“Wood Mac”), examining Marimaca Copper’s expected carbon emissions targets during the development and operation of the Marimaca Oxide Deposit (the “MOD” or the “Project”) (the “Study”). The Study confirms the validity of the Company’s target to deliver a world-class ‘green copper’ project with industry-leading carbon emissions. Highlights: Marimaca Project benchmarks in 1st quartile of global copper mine site emissions intensity assuming the Project’s power is from renewable energy sources When Scope 3 emissions are included (transportation and smelting) the MOD’s carbon intensity per tonne of refined copper is expected to be in the lowest 10% of all copper projects globally The Atacama Desert has one of the highest average solar irradiances in the world The MOD is well-positioned to benefit from opportunities to partner with several regional solar power developers under the progressive Chilean legislative framework which supports renewable development Early engagement with large scale energy utilities has confirmed that Marimaca is expected to be able to source 100% renewable energy from the national electricity grid in northern Chile The Wood Mac Study confirms SX-EW processing method is, on average, approximately 38% less carbon intensive per tonne of refined copper when compared to traditional concentrate smelting and refining SX-EW copper contributes only ~16% of global refined copper supply in 20201 demonstrating high scarcity value of the MOD in the context of low carbon intensity copper The Project’s location within 25km of the Port of Mejillones and 40km from Antofagasta reduces execution risk associated with logistics, personnel, and transport, and limits the associated energy intensity requirements of each Hayden Locke, President & CEO of Marimaca Copper, commented: “Sustainability is now one of the most important considerations for new mine developments and has been a core focus for us in advancing the Marimaca Project. We have always believed the MOD would be at the low end of the emissions spectrum for the industry and Wood Mackenzie’s work has validate...