During the 2016/17 year Lycopodium continued working on the Cobré Panama project for Minera Panama S.A. (MPSA) a subsidiary of First Quantum Minerals Ltd (FQML), continuing our relationship with FQML on various projects globally.
TSX listed FQML through its Panamanian subsidiary MPSA, are developing this US$6+ billion copper project in the Republic of Panama. The Cobré Panama project is located approximately 120 km west of Panama City and lies fairly close to the Caribbean Sea coast.
The topography in the concession area is low elevation but rugged, with considerable local relief covered by dense vegetation. Climatic conditions are tropical with high rainfall levels, high humidity and relatively moderate temperatures of 25ºC to 30ºC year-round.
Plans for the Project involve mining from open pits, overland conveyor transportation, a concentrator treatment plant adjacent to the mine with the concentrate being pumped 25 km to a dedicated MPSA built port for filtration and export. The Project’s mine life has been estimated at more than 30 years.
Awarded work on the project in 2013, Lycopodium scope of services is to carry out detailed engineering design for the process plant, earthworks, architectural, civil, structural, mechanical and piping and provide technical input into the procurement process for the construction of the process plant, services and associated infrastructure. The process plant will have an installed nameplate capacity of 85 Mtpa for the first period of operation with the capacity to expand up to 100 Mtpa.