COPPER-GOLD DEVELOPMENT: KGHM takes over as Ajax operator

BRITISH COLUMBIA – Abacus Mining and Exploration of Vancouver has turned over operation of the Ajax copper-gold project near Kamloops to partner KGHM International, the Canadian subsidiary of Polish miner KGHM Polska Miedz. KGHM increased its ownership of the joint venture to 80% in April 2012.

KGHM also appointed a fifth member to the board of KGHM Ajax, the joint venture company.

The permitting process for the Ajax project is well underway. The current focus is the production of the project description documents, to be followed by various environmental studies. The partners have held several discussions with First Nations groups and are currently finalizing a cultural heritage study agreement with the Stk'emlupsemc te Secwepemc.

The Ajax feasibility study supports production of 2.5 billion lb of copper and 2.28 million oz of gold over a 23-year mine life. A conventional open pit and 60,000-t/d concentrator are planned.

Details are available at AMEmining.com.