SolGold raised its forecast for its flagship copper mine because it could generate an additional $8.7 billion (£6.8 billion) in revenue during its metallurgical period, SMM reported.
Metallurgical tests show that the Australian company's Alpala project has been marked as a future first-class copper mine, with a significant increase in the amount of copper, gold and silver that can be mined.
The results show that an additional 4.4 million ounces of gold, 24 million ounces of silver and 354000 tons of copper will be recovered.
Commenting on the results, SolGold CEO Nicholas Mather said: "the latest metallurgical recovery rates for copper, gold and silver are really impressive. Compared with the decline in global concentrate grade and quality, SolGold hopes to gain some substantial competitive advantage in the Alpala project compared with other undeveloped copper and gold resources around the world. "
Analysts at Liberum, an investment bank, described the mine as "one of the largest and highest grade undeveloped copper discoveries in the world".
BHP Billiton and Newcastle are both major investors in SolGold, with a stake of more than 10 per cent.
A preliminary feasibility study is expected to be carried out in the first quarter of 2020.
A grand event for thousands of people in China's non-ferrous metal industry
Shanghai colored net (SMM) annual meeting is the annual event of the metal industry, with an annual participation scale of thousands of people, domestic and foreign metal industry people gathered together to review and summarize the experience and harvest of the year, and lay the groundwork for the production, operation and operation of the coming year.
This year's "2019 China Nonferrous Metals Industry Annual meeting and 2020 (SMM) Metal Price Forecast Conference" was jointly created by SMM and China Renewable Resources Industry Technology Innovation Strategic Alliance and Shanghai Nonferrous Metals Industry Association. At the same time, the first "China Renewable Metals Industry chain Development Summit Forum" was held, and SMM metal price forecasting conference and waste battery recycling exchange were set up for you to enjoy. From the development of non-ferrous metal market to the recycling of renewable resources, from the detailed explanation of policies and systems to the research and development of industrial chain technology.
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