Asset Report

Asmara copper mine project

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06 December 2018

Asmara copper mine project

Report summary

The Asmara project consists of four VMS deposits: the Debarwa deposit 25km south of Asmara, and the Northern deposits (Emba Derho, Adi Nefas and Gupo Gold) located 15km north of Asmara. In May 2012, a pre-feasibility study on Asmara projects was completed and a feasibility study was initiated in June 2012. Feasibility study was completed in May 2013. Feasibility study estimated a mine life of 17 years with average annual production of 22kt Cu, 50kt Zn, 26koz Au and 11Moz Ag. The United...

Table of contents

  • Key facts
    • Summary
    • The Asmara project consists of four VMS deposits: the Debarwa deposit 25km south of Asmara, and the Northern deposits (Emba Derho, Adi Nefas and Gupo Gold) located 15km north of Asmara.
    • A feasibility study was completed in May 2013 and amended in 2014. The study estimated a mine life of 16.3 years with average annual production of 22kt Cu, 50kt Zn, 26koz Au and 665 Koz Ag.
    • Key issues
    • In Q2 2016, Sunridge Gold Corp sold their 60% interest in the Asmara Mining Share Company (AMSC) which owns the project to Sichuan Road & Bridge Mining Investment Development Corp. Ltd (SRBM) for US$65 million in cash, $13.33 million in deferred payments owned to Sunridge from the Eritrean National Mining Corporation (ENAMCO).
  • Location maps
  • Participation
    • Debarwa
    • Emba Derho
    • Adi Nefas
    • Gupo
  • Reserves and resources
    • CAPEX
  • Timeline

Tables and charts

This report includes 4 images and tables including:

  • Key facts: Table 1
  • Detailed map
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2

What's included

This report contains: