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Highlights
- Coda Minerals (COD) releases an upgraded scoping study for Elizabeth Creek.
- Enhanced metrics include improved copper and silver recoveries.
- Development aims to leverage South Australia's active mining region.
Coda Minerals (ASX:COD) has unveiled an upgraded scoping study for its Elizabeth Creek copper-cobalt-silver project in South Australia, showcasing significant improvements in several key metrics. The revised study incorporates enhanced mining and metallurgical processes, focusing on both open-pit and underground prospects, solidifying Elizabeth Creek as a prominent operation in the Olympic Dam copper province.
Enhanced Mining and Metallurgical Processes
The updated scoping study builds on Coda’s original release from early 2023, introducing optimizations for the flagship Emmie Bluff underground deposit. These include refinements to underground mining techniques and metallurgical upgrades, such as integrated oxide collectors and an additional mill-float stage, which have boosted copper and silver recoveries.
The study also evaluates other prospects within Elizabeth Creek, including MG14, Windabout, and Cattle Grid South. These upgrades reflect significant progress made by Coda Minerals (COD) in advancing its technical and operational strategies.
Strengthened Financial Metrics
The financial outlook for Elizabeth Creek has improved notably, with the life-of-mine pre-tax revenue now estimated at $7.57 billion. The project’s net present value has risen to $1.18 billion pre-tax and $802 million post-tax. An internal rate of return of 35% underscores the project’s strong financial potential.
Despite an 8% increase in pre-production capital expenditure to $331 million, the improvements to recoveries and market-aligned price assumptions for copper have positioned Elizabeth Creek for competitive long-term profitability. Adjustments to cobalt pricing reflect ongoing weakness in the spot market, ensuring realistic projections.
Future Expansion Plans
Coda Minerals (COD) remains focused on increasing tonnage at Elizabeth Creek, with drilling activities planned for early 2025. These efforts will target high-grade extensions at Emmie Bluff and explore potential new open-pit deposits at Oakden, further enhancing the project’s resource base.
Strategic Location and Sustainable Development
Elizabeth Creek spans 774 square kilometers in the Olympic Dam copper province, Australia’s most productive copper region. The two-stage development plan includes 12 months of concentrate production for early cash flow, followed by a hydrometallurgical plant using the Albion process. This approach aims to deliver high-value products like copper cathode, cobalt sulphate, and silver doré over a 13-year project life.
Coda Minerals (COD) continues to strengthen its position as a competitive and sustainable player in the global mining sector, capitalizing on South Australia’s rich resources and advanced infrastructure.
