Operator: First Quantum Minerals Ltd.
Royalty: NSR: 1.08%
Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. The property is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta and 90 km east of the world’s largest copper mine, Escondida.
Taca Taca is a very large copper/gold/molybdenum porphyry system with a preliminary economic assessment completed by Lumina Copper Corp. (“Lumina Copper”) in April 2013. The study estimated a potential mine life of 28 years with annual throughput of 120,000 tonnes per day and expansion potential to 180,000 tonnes per day after seven years.
In August 2014, First Quantum acquired all outstanding shares of Lumina Copper. Since its acquisition, First Quantum has focused on detailed review of geology, exploration and development options for the project. Environmental Impact Assessment studies has collected baseline data and begun the implementation of a communications and consultation plan in three local population centres. Initial engineering studies were carried out and commercial/logistical aspects continue to be addressed. The Environmental Impact Assessment baseline studies are planned to be finished in second quarter of 2017 while further studies such as transport and electricity supply should be initiated in 2017.
|Total Revenue to FNV ($ million)