VANCOUVER, BC, April 22, 2021 /CNW/ – Foran Mining Corporation will become the world’s first carbon neutral copper development project.
The move underscores Foran’s commitment to building the world’s first fully carbon-neutral copper mine and is part of its broader mission to create a blueprint for responsible mining that causes the least possible harm from day one through the innovative use of technology, renewable energy and fleets of electric vehicles and equipment.
The offsets, which neutralize emissions produced through land-use changes and clearing, fuel-use for exploration and travel to and from the site, will be purchased in the coming weeks and will help provide funding for a mix of projects including a wind power project in Guatemala, and a forest protection project in Inner Mongolia.
Dan Myerson, Executive Chair of Foran, commented: “This world-first puts McIlvenna Bay at the cutting edge of the sector, in line with our mission to become the world’s first zero-carbon copper producer from day one.
Dan and the team at Foran Mining are committed to operating a carbon neutral copper mine from the start by deploying clean energy sources and automated technology, for the safety of its workers and the benefit of society.
By measuring and offsetting historical emissions from exploration activities, Foran is taking responsibility for unavoidable emissions and using the measurement exercise to inform data-driven decisions about their future impact.
McIlvenna Bay is a copper-zinc-gold-silver rich VMS deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years.
The Company filed a NI 43-101 Technical Report for the PFS on the McIlvenna Bay Deposit on SEDAR on April 28, 2020.
Forward-looking statements or information in this news release relate to, among other things: complete the feasibility study in a timely manner, and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback period, process capacity, average annual metal production, average process recoveries, anticipated mining and processing methods, proposed PFS production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, future financial or operating performance of the Company, subsidiaries and its projects, estimation of mineral resources, exploration results, opportunities for exploration, development and expansion of the McIlvenna Bay Project, its potential mineralization, achieve carbon neutral status from day one of production, the future price of metals, the realization of mineral reserve estimates, costs and timing of future exploration, the timing of the development of new deposits, requirements for additional capital, foreign exchange risk, government regulation of mining and exploration operations, environmental risks, reclamation expenses, title disputes or claims, insurance coverage and regulatory matters.
These assumptions include: our mineral reserve and resource estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; success of the Company’s projects, including the McIlvenna Bay Project; prices for zinc, copper, gold and silver remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services ; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws.
The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors.