How Filo Mining advances its big copper project by 'piggybacking' on another

Описание: Filo Del Sol copper project has synergies with another project 12 kilometers away, said Filo Mining President & CEO Jamie Beck.

Beck spoke to Kitco Mining earlier this month at Deutsche Goldmesse in Frankfurt.

Canadian-based Filo Mining (TSX:FIL) is advancing its Filo del Sol project, a high-sulphidation epithermal copper-gold-silver deposit associated with a large porphyry copper-gold system. The project is located in San Juan, Argentina near the border of Chile. The stock is a high-flyer. Even after the commodity downturn this fall, copper developer FIlo Mining is up 45% over the past 12 months. The company has a current market capitalization of $2.24 billion.

Filo Mining is part of the Lundin Group of Companies.

Just 12 km away is Lundin Mining's 100%-owned Josemaría project, which is advancing towards development. The Josemaría project is to be developed as a large-scale open pit mining operation, according to the company's website. As currently envisaged, over 1 billion tonnes of ore will be mined at average diluted head grades of approximately 0.30% copper, 0.22 g/t gold and a strip ratio of 0.98 over a 19-year mine life.

"Josemaria project was just acquired by Lundin Mining at the end of 2021, and so as that project moves forward it is really a great opportunity for us to potentially piggyback on some of the synergies that might exist in terms of them building a power line and roads—all the infrastructure that comes along with a big copper project," said Beck.

In the spring Filo Mining announced a C$100 million investment in the company by BHP Group, which now has a 5% share.

"It's been nice validation of our thesis and the district," said Beck about the BHP investment.

Filo Mining won the CDFund Discovery Award at Deutsche Goldmesse.

Kitco Mining's coverage of Deutsche Goldmesse was sponsored by Faraday Copper.

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0:30 - What is Filo Mining's Filo del Sol project?
1:05 - Ownership structure and BHP investment
3:22 - Does Filo Del Sol project have access to water?
3:50 - Does Filo Del Sol have access to road and electricity?
4:55 - Discuss the coordination between Josemaria project and Filo Mining.
5:30 - Is elevation an issue at Filo Del Sol?
6:25 - Community relations at Filo Del Sol project.