Pan Asia Secures Rosario Copper Project in Chile
Pan Asia Secures Rosario Copper Project in Chile

Pan Asia Secures Rosario Copper Project in Chile

  • 29-Jul-2024 5:33 PM
  • Journalist: Yage Kwon

Pan Asia Metals (ASX:PAM) has strategically expanded its portfolio with the acquisition of the high-grade Rosario Copper-Silver Project, strategically situated in Chile's renowned copper mining district. This Manto-style deposit, located in close proximity to the established El Salvador copper mine and benefiting from robust infrastructure, provides PAM with a compelling entry point into the copper market. By securing this asset, the company positions itself to capitalize on the robust supply-demand dynamics of the copper market while diversifying its revenue streams. This strategic move is anticipated to enhance shareholder value as PAM leverages its operational expertise and industry relationships to unlock the full potential of the Rosario Project.

The Rosario Copper Project is situated in the commune of Diego de Almagro, within the Chanaral Province of Chile's Atacama region. It is approximately 120 km east of the port city of Chanaral and 160 km north of Copiapo, a key mining hub. Access to the project is via well-maintained paved roads, transitioning to dirt roads for the final 10 km. The project is located around 10 km north of the El Salvador mine, which is operated by CODELCO, and close to the town of El Salvador, which has a population of approximately 7,000.

PAM is strategically targeting battery metals projects to become a low-cost producer of essential electrification metals. With lithium and copper being crucial for electrification, PAM is now positioned to capitalize on low-cost opportunities in both sectors, enhancing its potential for strong profit margins. The Rosario Copper Project complements PAM’s lithium assets, benefiting from a low-cost environment rich in infrastructure and close to processing and manufacturing facilities. This alignment supports PAM's long-term investment strategy, leveraging favorable market conditions for both metals to drive sustainable growth and profitability.

Paul Lock, Managing Director, expressed strong enthusiasm about the Rosario Copper Project, emphasizing its alignment with PAM’s strategic goals. He detailed that the project benefits from its location in a well-developed infrastructure area with nearby processing facilities, which significantly enhances its operational efficiency. The Rosario Project boasts exceptional copper grades based on extensive rock chip analysis and is situated in a premier copper-producing region known for its cost advantages. Lock noted that this combination of high-grade resources and favorable cost structure positions the project in the lower third of the cost curve. He underscored copper’s critical role in the global electrification transition, highlighting the project's strategic value in addressing anticipated supply deficits due to declining production and limited new discoveries.

Related News

Asia Copper Rod Prices Soar as Inventory Levels Drop and Demand Surges
  • 19-Dec-2024 12:30 AM
  • Journalist: Motoki Sasaki
Nova Pacific Secures 2 6 Million for Lara Project Advancement
  • 11-Dec-2024 3:30 AM
  • Journalist: Phoebe Cary
Trump Tariffs Set to Reshape Global Copper Landscape Shifting Trade Dynamics
  • 05-Dec-2024 2:00 AM
  • Journalist: Patricia Jose Perez
Metso Unveils Integrated Copper Electrowinning Plant to Enhance Copper Cathode
  • 04-Dec-2024 1:06 AM
  • Journalist: Peter Schmidt