It was forced to update the 2020 Arctic feasibility study in compliance with regulatory requirements.
Annual metal production falls slightly in comparison to the 2020 feasibility study to 148.7 million lb. copper, 172.6 million lb. zinc, 25.8 million lb. lead, 32,539 oz. gold and 2.8 million oz. silver.
The capital outlay has jumped 40% to $1.7 billion, up from $1.2 billion previously, with the new study doubling the mine closure and reclamation budget to $428.4 million, among other line-item increases.
Under the new mine plan, the all-in cost net of byproduct credits jumped 64% to $1.61 per lb. copper from 98¢ previously.
