Aldebaran’s Altar Copper-Gold Project PEA Reveals 48-Year Mine Life

Altar Copper-Gold Project Shows Long-Life Production Potential

Aldebaran Resources has unveiled the preliminary economic assessment (PEA) for its Altar copper-gold project in San Juan, Argentina. The report, compliant with NI 43-101 standards, details a 48-year mine life and outlines a robust production and cash flow outlook. The concentrator design targets a 60,000-tonne-per-day capacity, drawing feed from both open-pit and underground operations.

The PEA reflects a 100% project basis, though Aldebaran Resources owns 80% and Sibanye-Stillwater holds the remaining 20%. The project includes a three-year construction phase before reaching full-scale production. During the first 20 years, annual output averages 121,445 tonnes of copper equivalent (CuEq), comprising 108,579 tonnes of copper, 43,199 ounces of gold, and 570,217 ounces of silver. Over the life of mine (LoM), average annual production is projected at 101,413 tonnes CuEq.

Strong Economics Highlight $2B NPV and 20.5% IRR

The Altar copper-gold project PEA uses base-case prices of $4.35/lb copper, $2,500/oz gold, and $27/oz silver. Under these assumptions, the project delivers an after-tax NPV (8%) of $2 billion, an IRR of 20.5%, and a four-year payback period. Total life-of-mine gross revenue reaches $44.7 billion, supported by cumulative free cash flow of $10.7 billion.

At spot prices of $5/lb copper, $3,963/oz gold, and $47/oz silver, the after-tax NPV surges to $3.34 billion and the IRR to 28%. Aldebaran reduces upfront capital costs through a staged approach to tailings and underground development. The capital intensity measures $15,713 per tonne of annual CuEq output, with an NPV-to-capex ratio of 1.27.

The mine plan combines open-pit and underground mining, prioritizing early access to high-grade zones to enhance early cash generation. Notably, 80% of the planned resources are classified as measured and indicated, underscoring the project’s geological confidence and long-term stability.

SuperMetalPrice Commentary:

The Altar copper-gold project positions Aldebaran as a rising force in South America’s copper frontier. The 48-year mine life and $2B NPV underscore strong project fundamentals and leverage to rising copper and gold prices. The integration of open-pit and underground operations adds flexibility, while Sibanye-Stillwater’s partnership strengthens execution capacity. As global copper demand surges with electrification and green energy transitions, Altar stands out as a strategic long-term asset in Argentina’s growing mining landscape.