/// JABAL SAYID
Project Information
| Port | Yanbu |
| Location | 350km north-east of Jeddah |
| Infrastructure | Existing decline which is 1.8km long with an extra 1.7km of development work |
| Existing sealed highway access to Jeddah and Yanbu Port |
| Capital Cost | USD$280M |
| Operating Cost | USD$0.97/lb - Payable |
| Mining Rate | 2.6Mt per annum |
| Resource | 31Mt at 2.3% copper |
| Reserve | 24.4Mt at 2.2% copper |
| Recovery | 94% producing 26% copper concentrate with gold and silver credits |
| Concentrate | Approximately 235,000t with 57,000t contained copper |
| Mining method | Long hole open stope |
| Current infrastructure | 1.8km decline, camp facilities for 80 persons and offices |
| Life of Mine |
10 years (Lodes 2 and 4 only) |
| Processing |
Design capacity 3Mtpa - allows for additional Lode 1 feed |
The flagship Jabal Sayid copper and gold project is on track for commissioning in late 2011 producing 235,000t of copper concentrate. The project is one of the lowest cost of capital per tonne of copper producing project which will also produce gold and silver in concentrate.
The project will produce approximately 57,000t of copper in concentrate per year and the average life of mine head grade through the concentrator will be 2.3% copper and approximately 0.3 g/t gold.
The Definitive Feasibility Study Report was completed in December 2009 and Mining (Exploitation) Licence granted in May 2010.
Scoping studies are also underway for Lode 1 as it is showing increasng promise. Recent drilling results is showing that the top of Lode 1 is a primary mineralised zone dominated by copper with significant gold and silver. The copper zone appears to extend below the current decline and there is potential for an open pit to provide additional copper feed early in the mine life. The proposed initial open pit is to be approximately 200m in depth and has a pit life of approximately 5 or more years. Feasibility Study for Lode 1 is targeted to be completed by the end of 2010.
