Further concentrate sales reported and planned
Altiplano Metals (TSXV APN / WKN A2JNFG) is starting the New Year with a lot of momentum. After last week’s news about the Santa Beatriz copper mine, today the company continues with news about the El Peñón processing plant. There, 45 kilometers south of La Serena in Chile, Altiplano has completed important technical improvements.
As the company has now announced, a new weighing system has been installed at the facility. It is a 20-metre-long, 60-tonne, reinforced and solar-powered weigh bridge that has been specially designed for heavy-duty traffic. According to Altiplano, this will allow them to more accurately determine the amount of copper and gold mineralized material delivered to the plant and also improve the process of delivering the final concentrate shipments.
Continued concentrate sales
Altiplano is currently processing material from stockpiles at El Peñón until mineralized material from the Santa Beatriz mine becomes available, probably in the very near future (Learn more.).
The company also announced today that it sold another 56 tons of concentrate to Ocean Partners (Chile) Spa on December 23, 2024. Preliminary sales of 90% totaled CAD 140,000 (USD 100,000), based on a preliminary estimated grade of 24% copper and 1.4 grams of gold.
This means that each tonne of concentrate has a provisional value of USD 2,079. The final price will be based on the average copper price on the LME (London Metal Exchange) and payment is expected at the beginning of February.
First iron ore sales expected in January
In addition, Altiplano Metals produced 850 tons of iron concentrate in December, the average content of which is estimated at 68% Fe. This means that there are now 2,500 tons in stock and Altiplano plans to make its first sales this month.
Altiplano CEO Alastair McIntyre explains: “We are pleased to continue the technical improvements at the processing plant with the installation of a new scale. The system will improve our reporting and sales processes to ensure the accuracy of materials delivered to and shipped from the plant. We are also pleased to see additional concentrate sales from the plant thus enhancing our income for year end.”
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