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Amerigo delays installation of regrind mill at Minera Valle Central project

Amerigo Resources Ltd. said Jan. 3 that a C$1.5 million concentrate regrind mill at its Minera Valle Central copper project in Chile will not be installed within the completion timeline of the site's phase-two expansion.

The mill is now expected to be installed by the second quarter.

Minera Valle Central produces copper concentrate by processing fresh and historical tailings from Codelco's El Teniente mine, the world's largest underground copper mine. In September 2018, Amerigo kicked off commissioning of the site's new rougher flotation circuit.

Amerigo secured a C$35.3 million loan facility in 2017 to fund the phase-two expansion of tailings processing operations for the Cauquenes deposit.

The company said it passed the completion tests for the project under the facility, which included production, costs, commercial, environmental compliance and mechanical completion targets over a 60-day period.

This year, the project is expected to produce between 80 million and 85 million pounds of copper and 2.5 million pounds of molybdenum at cash costs of between C$1.30/lb and C$1.45/lb of copper.