New CEO, incoming CFO, and an updated mine plan
Copperstone reported its Q4 on Wednesday. For the quarter itself, there were no surprises in the report, and the dialogue with authorities regarding the Viscaria mine's environmental permit continues. New CEO Henrik Ager, formerly Head of Sandvik's largest segment, Mining and Rock Solutions, assumed his position in December, and Copperstone also released a major resource upgrade during the quarter, increasing measured copper resources in Viscaria by 43%. The most notable news in the report, however, was the company's updated mine plan for Viscaria, wherein it extends the initial life-of-mine (LoM) to 15 years (from 10) as a result of the mentioned increase in resources. Moreover, it now expects a copper grade of 0.95% (down from 1.15%), for a total copper production increase over the LoM of 120ktonnes, or 40%. Finally, the company now expects development capex at SEK 4.5-5.0bn (up from ~3.5bn).
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