Battery Mineral Resources Delivers Second Copper Shipment to Anglo American
Battery Mineral Resources has announced the successful delivery of its second shipment of copper concentrates under the Offtake Agreement with Anglo American Sur, a division of Anglo American. The shipment, comprising 751.65 dry metric tonnes (DMT) of copper concentrates, was sent to Anglo's Chagres smelter in Catemu, Chile. These concentrates, produced from copper smelting by-products (slags) supplied by Anglo, were processed at Battery Mineral Resources' Punitaqui copper flotation plant and contain 24.22 percent copper, amounting to approximately 410,348 pounds of copper in concentrate.
Martin Kostuik, Chief Executive Officer of Battery Mineral Resources, highlighted the importance of this milestone: "This second copper concentrate shipment marks another significant stride towards positive cash flow, in line with Battery's goal of building a mid-tier copper producer. In the near term, copper sales are projected to include material sourced from Punitaqui mine operations as well as from additional third parties. As we endeavor to generate consistent cash flow from copper sales, BMR is in a favourable position to provide shareholders accretive exposure to a very healthy copper marketplace, now and in the years to come."
In July, the company delivered a total of 1,255 DMT of copper concentrate for smelting. Battery Mineral Resources aims to increase production to approximately 1,400 DMT of copper concentrates per month in the near term, with a goal of reaching up to 2,800 DMT per month by year-end.
The production of copper concentrate began on May 13th, 2024, following the successful commissioning of the upgraded mineral processing facility at Punitaqui. Current mining activities are focused on establishing access to the mineralized zones in both the Cinabrio and San Andres mines. The ramp-up continues, with both mines contributing increasing amounts of stockpiles for fresh mill feed. Cinabrio, the original mine, provided mill feed for the first 10 years of operations, primarily operated by Glencore.
