Battery Mineral Resources Delivers Copper Concentrates Produced at Its Mineral Processing Facility at Punitaqui, Chile

Rhea-AI Summary

Battery Mineral Resources (BTRMF) announced continued production and shipment of copper concentrates from its Punitaqui facility in Chile. The company delivered 2,755 dry metric tonnes (DMT) of copper concentrates during September-November 2024, with 1,131 DMT delivered to Anglo American Sur's Chagres smelter and 1,624 DMT from Punitaqui mine operations sold to Ocean Partners Chile SpA.

The concentrates contained an average of 22.33% copper, representing approximately 1,235,000 pounds of copper. Since May 2024, the company has shipped 5,661 DMT, totaling over 2,783,565 pounds of copper in concentrate. BMR aims to reach 1,400 DMT monthly in the near term and increase to 2,800 DMT monthly by second half of 2025.

Positive

• Delivered 2,755 DMT of copper concentrates in Sep-Nov 2024
• High-grade concentrate production averaging 22.33% copper
• Total production of 5,661 DMT since May 2024 commissioning
• Secured offtake agreement with Anglo American Sur
• Both Cinabrio and San Andres mines now providing increasing stockpiles

Negative

• Current production below target of 1,400 DMT per month
• Requires additional ramp-up to reach 2025 production goals

Vancouver, British Columbia--(Newsfile Corp. - December 16, 2024) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce the continued production and shipment of copper concentrates produced at its mineral processing facility at Punitaqui, Chile.

The Company supplied a total of 2,755 dry metric tonnes ("DMT") of copper concentrates in the months of September, October and November 2024. 1,131 DMT were delivered to Anglo American Sur S.A.'s Chagres smelter in Catemu, Chile and are related to the Offtake Agreement (or the "Agreement") with Anglo American Sur S.A. ("Anglo"), a division of Anglo-American PLC. The copper concentrates were from copper smelting by-products (slags) supplied to BMR by Anglo. The balance of the copper concentrates, being 1,624 DMT, were produced from Battery's own Punitaqui mine operations and were sold to Ocean Partners Chile SpA and delivered to Terminal Portuario de Coquimbo ("TPC") to be exported. TPC is a major export and import point in Chile, handling a significant amount of the copper concentrates produced within the country, and is located approximately 130 kilometers from the mine by paved road with year-round access.

All of the copper concentrates during those three months were produced at BMR's Punitaqui copper flotation plant and contained a weighted average of 22.33 percent copper, for approximately 1,235,000 pounds of copper in concentrate.

Martin Kostuik, Chief Executive Officer, stated, "The ongoing production and shipment of copper concentrate represents important progress in achieving our goal of 1,400 DMT per month, in the near term. The funds received from our recent transaction with Electric Royalties, combined with the increasing concentrate sales and requisite cash flows, will enable Battery to continue ramping up the supply of mill feed from our own Punitaqui mines."

Since the May 2024 commissioning of the recently refurbished and upgraded mineral processing facility at Punitaqui, the Company has shipped 5,661 DMT, for a total of over 2,783,565 pounds of copper in concentrate, to date. The Company is progressing steadily to bolster copper concentrate production results with a goal of delivering approximately 1,400 DMT per month in the near term and reaching up to 2,800 DMT of copper concentrate production per month by 2H 2025.

Continued mining activities are providing access to the mineralized zones in both Cinabrio and San Andres. Battery continues to ramp up with both mines now providing increasing amounts of stockpiles containing fresh mill feed.

About Battery Mineral Resources Corp.
Battery Mineral Resources' mission is to build a mid-tier copper producer and has recently initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. The Company's portfolio also consists of two cobalt assets and one lithium asset located in North America and two graphite assets in South Korea. The Company is focused on providing shareholders accretive exposure to copper and the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favorable mining jurisdictions.

For more information about Battery Minerals, please visit our website at https://bmrcorp.com/, or email us at info@bmrcorp.com.

Martin Kostuik, CEO

Twitter: @BMRcorp_
Facebook: Battery Mineral Resources Corp. | Facebook
LinkedIn: Battery Mineral Resources Corp.: My Company | LinkedIn

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law. 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233901

FAQ

How much copper concentrate did BTRMF produce in September-November 2024?

BTRMF produced 2,755 dry metric tonnes of copper concentrates during September-November 2024, with an average grade of 22.33% copper.

What is BTRMF's copper concentrate production target for 2025?

BTRMF aims to reach 2,800 DMT of copper concentrate production per month by the second half of 2025.

How much copper has BTRMF's Punitaqui facility produced since May 2024?

Since May 2024 commissioning, the Punitaqui facility has shipped 5,661 DMT, totaling over 2,783,565 pounds of copper in concentrate.

What is BTRMF's near-term monthly production target for copper concentrate?

BTRMF's near-term goal is to achieve monthly copper concentrate production of 1,400 DMT.

Who are BTRMF's main customers for copper concentrate?

BTRMF's main customers are Anglo American Sur S.A.'s Chagres smelter and Ocean Partners Chile SpA.