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Balatoc Gold Tailings Project    Sta. Cruz Nickel Project
The Company      Benguet Corporation, with 107 years of history, has       pioneered modern mining in the Philippines:190...
BenguetCorp Mineral Properties1. ACUPAN GOLD MINE          6. LIMESTONE PROSPECTS2. ANTAMOK GOLD MINE         7. PANTINGAN...
Ilocos Norte FTAA  Kalinga Apayao       FTAA                     Sta. Cruz Nickel                          ProjectAcupan G...
BALATOC GOLD  RESOURCES CORP. (BGRC)BALATOC GOLD TAILINGS PROJECT “THE RECOVERY OF RESIDUAL    GOLD FROM TAILINGS”
Incompliance with NPCC directive – BenguetCorp built three (3) tailings dams which up to 1992 had accumulated some 16.7 M...
PROJECT LOCATION                   Tailings Pond # 3                                       Tailings Pond # 1              ...
TAILINGS RESOURCE                    TONNAGE  TAILINGS POND                  GRADE (gAu/MT)                      (MT)     ...
MineralProcessing Permit (MPP) No. 13-2010-CAREnvironmental Compliance Certificate (ECC) 0811-033-2721 issued June 11, 2...
Reclamation of Tailings Reclamation by SMALL HYDRAULIC SUCTION DREDGE. Reclamation rate of 3,000 TPD on the first 3 year...
Dredging facilities will be installed in the tailings pond for mining.
Metallurgical Process Metallurgical researches were done in the  laboratories of BenguetCorp, MGB and Beijing  General Re...
Metallurgical Process Test results showed about 84.3% & 70% gold  recoveries    from   flotation and    CIP/CIL,  respect...
ANNUAL MILL PRODUCTION SCHEDULE                             TONNAGE       GRADE  YEAR       TAILINGS POND                 ...
EQUITY                Approximately P333 million ($7.24M), equivalent to anIssue size                economic ownership st...
-   This pioneering approach by BenguetCorp    will open up similar ventures for other gold    mill tailings in the countr...
“ENHANCING RESOURCEUTILIZATION, UPGRADING VALUE         OF PRODUCT”
• MPSA No. 226-2005-III• Environmental Compliance Certificate  (ECC) 0806-015-2140• The Sta. Cruz deposit consists of two ...
Exploration Work PerformedNo. of Test Pits sunk                                  1,355 TPsTotal Length of Test Pits Sunk  ...
Drilling ProgramThe drilling program from2008 up to mid 2010 hadcompleted a total of 975holes with an aggregatedepth of 10...
Preliminary Resource EstimateGrade Group     Tonnage      %            %Ni1.0 – 1.3% Ni   7,486,663    47.9         1.141....
Ore:  Grade = 1.55% Ni  Moisture Content = 35%  Crystal Water = 14%                DRY (105 °C)                           ...
Comparative Advantage of Upgrading        the Ore to Pellets                                           ORE       PELLETLME...
DEBT OR EQUITY1 SINTERING PLANT                P706M ($15.35M)2 INFRASTRUCTURE DEVELOPMENT     P340M ($7.39M)3 EXPLORATION...
Balatoc Gold Tailings Project _ Sta. Cruz Nickel Project
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Balatoc Gold Tailings Project _ Sta. Cruz Nickel Project

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Benguet Corporation:

Balatoc Gold Tailings Project

Sta. Cruz Nickel Project

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Transcript of "Balatoc Gold Tailings Project _ Sta. Cruz Nickel Project"

  1. 1. Balatoc Gold Tailings Project Sta. Cruz Nickel Project
  2. 2. The Company  Benguet Corporation, with 107 years of history, has pioneered modern mining in the Philippines:1903 - rich gold lodes of the underground Antamok Mines in the famous Baguio Mineral District1927 - rich gold lodes of Acupan Mines also in the Baguio Mineral District1934 - Masinloc Refractory Chromite Mine in Zambales, Western Luzon1971 - gold-rich Dizon Porphyry Copper Mine in Zambales
  3. 3. BenguetCorp Mineral Properties1. ACUPAN GOLD MINE 6. LIMESTONE PROSPECTS2. ANTAMOK GOLD MINE 7. PANTINGAN GOLD PROSPECT3. AMPUCAO COPPER PORPHYRY PROSPECT 8. SURIGAO COAL PROJECT4. BALATOC GOLD TAILINGS 9. KINGKING COPPER-GOLD PROJECT PROJECT5. ILOCOS AND APAYAO FTAA 10. KINGKING EPITHERMAL GOLD PROJECT
  4. 4. Ilocos Norte FTAA Kalinga Apayao FTAA Sta. Cruz Nickel ProjectAcupan Gold MineAntamok Gold Mine Surigao Coal Balatoc Tailings Project Project
  5. 5. BALATOC GOLD RESOURCES CORP. (BGRC)BALATOC GOLD TAILINGS PROJECT “THE RECOVERY OF RESIDUAL GOLD FROM TAILINGS”
  6. 6. Incompliance with NPCC directive – BenguetCorp built three (3) tailings dams which up to 1992 had accumulated some 16.7 Million tonnes of mill tailings.
  7. 7. PROJECT LOCATION Tailings Pond # 3 Tailings Pond # 1 Tailings Pond # 2Benguet Province Barangay Virac
  8. 8. TAILINGS RESOURCE TONNAGE TAILINGS POND GRADE (gAu/MT) (MT) I 4,649,483 0.87 II 6,266,130 0.56 III 5,787,142 0.56 TOTAL/AVE. 16,702,755 0.65MINEABLE RESERVE TONNAGE TAILINGS POND GRADE (gAu/MT) (MT) I 3,952,061 0.87 II 5,326,210 0.56 III 4,919,071 0.56 TOTAL/AVE. 14,197,342 0.65
  9. 9. MineralProcessing Permit (MPP) No. 13-2010-CAREnvironmental Compliance Certificate (ECC) 0811-033-2721 issued June 11, 2009Board of Investment Incentives with 6 years BOI exempted tax holiday issued December 16, 2009
  10. 10. Reclamation of Tailings Reclamation by SMALL HYDRAULIC SUCTION DREDGE. Reclamation rate of 3,000 TPD on the first 3 years and 5,000 TPD on years 4 to 10. Pre-production dredging of about 2 million DMT from the downstream of Tailings Pond #1 and to be stockpiled in Tailings Pond #2 and upstream of Tailings Pond #1. During production, dredging of tailings material starts at Pond #1 and material conveyance via slurry pumping.
  11. 11. Dredging facilities will be installed in the tailings pond for mining.
  12. 12. Metallurgical Process Metallurgical researches were done in the laboratories of BenguetCorp, MGB and Beijing General Research Institute of Mining and Metallurgy (BGRIMM) of China. The planned mill capacity is 3,000 TPD for the first 3-years and expanded to 5,000 TPD on years 4 to 10. The selected metallurgical process is a combination of concentration by flotation, ultrafine grinding and CIP/CIL.
  13. 13. Metallurgical Process Test results showed about 84.3% & 70% gold recoveries from flotation and CIP/CIL, respectively. Combined gold recovery is about 60%. Option: roasting will improve gold recovery to 70% and production of about 90,000 tons of sulfuric acid per year. By-product: Pyrite concentrate will be sold in the market. The mill plant will be constructed at the old Acupan mill site overlooking Tailings Pond #1.
  14. 14. ANNUAL MILL PRODUCTION SCHEDULE TONNAGE GRADE YEAR TAILINGS POND Oz. Au (MT) (gAu/MT) 1 I & III 985,500 0.96 18,250.29 2 I & III 985,500 0.96 18,250.29 3 I & III 985,500 0.81 15,398.69 4 I 1,215,450 0.70 16,412.59 5 I 1,642,500 0.73 23,129.71 6 I & II 1,642,500 0.75 23,763.40 7 II 1,642,500 0.56 17,775.03 8 II 1,642,500 0.56 17,775.03 9 II 1,642,500 0.56 17,775.03 10 II 1,642,500 0.56 17,775.03TOTAL/AVE. 14,026,950 0.69 186,305.08
  15. 15. EQUITY Approximately P333 million ($7.24M), equivalent to anIssue size economic ownership stake to be negotiated with BGRCInstrument Common Equity Shares with a par value of P1.00DEBTInstrument Philippine Peso-denominated Term LoanIssue Size P600 million ($13M) Seven years inclusive of a three- year grace periodMaturity on principal repaymentsPrincipal In equal quarterly or semi-annual principal paymentsAmortizations commencing on the third year after initial drawdown
  16. 16. - This pioneering approach by BenguetCorp will open up similar ventures for other gold mill tailings in the country with BenguetCorp obtaining an edge technically and commercially.- Conducted Pre-Feasibility Study on the same approach for Antamok Tailings.
  17. 17. “ENHANCING RESOURCEUTILIZATION, UPGRADING VALUE OF PRODUCT”
  18. 18. • MPSA No. 226-2005-III• Environmental Compliance Certificate (ECC) 0806-015-2140• The Sta. Cruz deposit consists of two claim groups covered by: Insular Chromite Reservation #3 (ZMCR-3) 1,317.7653 hectares Guisguis Claim Group (ZR 1-10) 88.9709 hectares Total 1,406.7362 hectares
  19. 19. Exploration Work PerformedNo. of Test Pits sunk 1,355 TPsTotal Length of Test Pits Sunk 9,023mTest Pit Grid 100m x 100mTest Pit Average Depth 8mNo. of Auger Holes Drilled 101 holesTotal Length of Auger Holes Drilled 817mNo. of Drillholes 975 holesTotal Length of Drillholes 10,355 mTotal Length of Test Pits and 19,378 mDrillholes Vertical Channel cut on two (2) opposite sidesTest Pit Sampling Method sampled @1m interval
  20. 20. Drilling ProgramThe drilling program from2008 up to mid 2010 hadcompleted a total of 975holes with an aggregatedepth of 10,355 meters.
  21. 21. Preliminary Resource EstimateGrade Group Tonnage % %Ni1.0 – 1.3% Ni 7,486,663 47.9 1.141.3 – 1.5% Ni 3,227,309 20.7 1.401.5 – 1.8% Ni 4,000,248 25.6 1.62 >1.8% Ni 904,197 5.8 1.96 TOTAL 15,618,417 100 1.37
  22. 22. Ore: Grade = 1.55% Ni Moisture Content = 35% Crystal Water = 14% DRY (105 °C) At assaying condition, the crystal water (14%) isAssaying Condition: NOT measured. Grade = 1.55% Ni Ni Metal = 1.55 g Moisture Content = 0% Total Wt. = 100 g % Ni = 1.55% PELLETIZATION PROCESS (±900 °C)Ni Metal = 1.55 g In 100 g, Ni metal is 1.55 g and 14 g crystal water.Crystal Water = 0 g During pelletization, crystal water is removed decreasingOther Elements = 84.45 g the total weight to 86 g.Total Wt. = 86 g Thus Ni pellet grade = [(1.55/86) * 100] = 1.80% Ni Ni Metal = 1.55 g Total Wt. = 86 g % Ni = 1.80% ± 1.80% Ni
  23. 23. Comparative Advantage of Upgrading the Ore to Pellets ORE PELLETLME (US$/MT) 15,000 15,000% Ni 1.55 1.8% Moisture 35 5% Discount Factor 15.5 18% Combined Water 14 0Selling Price (US$/MT, FOB) 23.42 46.17Market Situation No Buyer SellableBUYER’S SAVINGS Freight Cost (US$/Shipment of 50K MT) 500,000 350,000 Savings (US$/Shipment) 150,000SELLER’S SAVINGS Hauling Cost (US$0.14/t/km, 23km) 161,000 112,700 Savings (US$/Shipment of 50K MT) 48,300
  24. 24. DEBT OR EQUITY1 SINTERING PLANT P706M ($15.35M)2 INFRASTRUCTURE DEVELOPMENT P340M ($7.39M)3 EXPLORATION P554M ($12.04M)4 TOTAL P1600M ($34.78M)
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