Victoria

General information

The Victoria project is located in the Canadian province of Ontario, approximately 35 km west of the city of Sudbury. The project assumes the construction of an underground copper and nickel mine. The owner of the project is KGHM International (100%). The project is currently in the phase of development and analysis.

History

In 2002, the mineral deposits rights to the Victoria area were acquired and exploration work began. As a result of the purchase of the Canadian mining company Quadra FNX by KGHM Polska Miedź S.A., in 2012 the Victoria project became a part of the KGHM capital group.

In 2015 the preparation of a technical document designing the process of building the mine (Basic Engineering) was completed. The document describes deposit access via 2 shafts (production and ventilation). Further exploration work aimed to confirm the potential continuity of the mineralisation below the currently recognised deposit were conducted at the Victoria project.

In 2016, a decision was made to verify the technical and economic assumptions of the project by independent consultants. In view of the macroeconomic situation at that time, the Management Board of KGHM Polska Miedź S.A. made a decision resulting in a modification of the previous project schedule.

Based on the analytical work carried out in 2017, the baseline scenario assumes two phases of development of the Victoria project, including the sinking of the first shaft, with additional exploration work and, later, the sinking of the production shaft.

Production

The ore at the mining plant will be extracted through the production shaft. All of the ore extracted from the mine will be processed by Vale’s Clarabelle plant in Sudbury. The mine will also have a second shaft ensuring proper ventilation of the underground workings.

Victoria Emission Summary and Dispersion Modelling Report - read the document