In August 2015, Teck and Newmont Corporation announced an agreement to combine their respective Relincho and El Morro projects, located approximately 40 kilometres apart in the Huasco Province in the Atacama region of Chile, into a single project.
The combined project is a 50/50 joint venture named NuevaUnión.
Project NuevaUnión is one of the largest undeveloped copper-gold-molybdenum projects in the Americas. Based on the results of a Preliminary Economic Assessment (PEA), initial stage development of Project NuevaUnión contemplates a conveyor to transport ore from the El Morro site to a single line mill and concentrator facility at the Relincho site. The phased development approach contemplated in the PEA will allow for future expansions to be funded from project cash flows, thus significantly reducing the initial funding requirement.
This approach will provide a number of key benefits, including reduced environmental footprint; lower cost and improved capital efficiency; optimized mine plan; enhanced community benefits and greater returns over either standalone project.
Work in 2023 will be focused on establishing a cost-effective path forward for the development of this world-class copper-molybdenum and copper-gold resource in a manner acceptable to communities of interest, key stakeholders and the regulator.
Please visit www.nuevaunion.cl for more information.