Caravel Minerals (ASX:CVV) has produced a copper concentrate low in impurities, making it sought-after for smelters around the world.
AT A GLANCE
- Initial copper concentrate testing from its WA copper project indicate a low level of impurities
- The low level of arsenic, in particular, is likely to attract interest from smelters around the world interested in using Caravel’s copper concentrate in blends
- The new numbers can form part of discussions with potential offtake partners
Smelters are increasingly looking for pure concentrates that they can blend with more complex concentrates — which often contain impurities above threshold levels.
The hope is by mixing their concentrates with Caravel’s more pure concentrate, that they can decrease the overall level of impurities.
Testing from Caravel’s concentrate
Caravel pointed to the super-low arsenic levels in its concentrate in particular — being ten times lower than the threshold levels, at which point penalties would kick in for the end producer.
News on its concentrate comes hot on the heels of it receiving good numbers in its scoping study.
It found its project had a 23 year mine lifespan and could generate $3.1 billion in free cash flow.
About Caravel Minerals
Caravel Minerals (ASX:CVV) is a junior explorer based in Perth, Australia. The Company is a copper, molybdenum, gold and base metals exploration and resource development company with deposits located in WA.
Caravel’s main focus on its flagship Caravel Copper Project located 120km northeast of Perth in a regional copper‐molybdenum‐gold mineralised belt discovered in a previously unexplored part of the Yilgarn Craton.
This content is produced by Star Investing in commercial partnership with Caravel Minerals. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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