BMC Minerals announced Tuesday it has pre-sold large volumes of concentrate from its undeveloped Kudz Ze Kayah project southeast of Ross River.
“BMC is pleased to advise it has executed binding commercial agreements with Trafigura and Glencore to sell approximately 100 per cent of the first five years of copper concentrate production, 90 per cent of the first five years of zinc concentrate production and 78 per cent of the first five years of HPM (high precious metal) concentrate to be produced from the proposed ABM Mine at BMC’s 100 per cent owned Kudz Ze Kayah Project in Yukon, Canada,” says the announcement.
Company president Scott Donaldson said in the release the company is pleased to execute the binding agreements.
“To have two of the largest and most reputable buyers of concentrates in the world in Glencore and Trafigura on board, is a testament to the quality of the project and their confidence in BMC’s ability to deliver it into production.”
BMC has gone through the screening by the Yukon Environmental and Socio-economic Assessment Board.
The board recommended the project be allowed to proceed provided the company fulfilled 30 specific conditions.
Company vice-president Allan Nixon explained in an interview Wednesday the company is waiting on the Yukon and federal governments to develop specifics of the conditions.
The government is conducting additional consultation with the First Nations to determine what to do with the final decision document, he said.
“We hope it will be finished soon,” Nixon said. “Once we get the decision document, then we get into permitting.”
He said it could take up to two years to secure a water licence and a quartz mining licence.
Once the required permitting is in place, construction of the mine can begin, and it’s estimated it will take a year and a half, he said.
Nixon said the proposed ABM mine at the Kudz Ze Kayah project remains very viable.
BMC is planning an open pit mine operation with an initial mine life of 10 years.
The Kudz Ze Kayah project is located 115 kilometres southeast of Ross River, and 25 kilometres from the Wolverine Mine.
BMC is a privately held company based in the UK.
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