29th Sep 2026 07:00
Halo Minerals PLC - London-based mineral development company - Announces the completion of the BIOS Mining & Infrastructure has completed a Class 3 engineering and cost update for its Playa Verde copper and gold tailings reprocessing project in Chile. The update puts estimated capital expenditure at about USD92.80 million, excluding VAT, and operating costs at USD2.20 per pound of recovered copper. The project is based on processing about 5.0 million tonnes of material per year over an initial seven-year operating life, with annual production targeted at about 8,640 tonnes of recovered copper and 1,400 ounces of gold. Halo says the indicative implementation period is about 18 months, with the study assuming start-up in October 2028. The company says it is now progressing the remaining technical, commercial and financing workstreams needed for a final investment decision, including an updated Competent Person's Report, value engineering, permitting, commercial contracting and financing.
"Completion of the BIOS MI Class 3 engineering and cost update represents an important step in converting Playa Verde from an advanced technical project into a financing and construction proposition," Chief Executive Officer Andrew Dennan comments.
“The update establishes a current capital and operating cost basis, confirms the defined process route and provides the platform from which we can complete the remaining work required for Final Investment Decision. Our focus is now on value engineering, the updated CPR, permitting, commercial contracting and assembly of an appropriate project financing package."
Current stock price: 9.10 pence
12-month change: down 28%
By Niall Holden, Alliance News reporter
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