The cost to construct a 144 kilometer long high tension power line has been included in the initial capital cost estimate. This power line will connect the Project to a 1,000 Megawatt ("MW") capacity line that was previously used to export power from the TermoAndes S.A. power plant located near the city of Salta into northern Chile. TermoAndes S.A. is an Argentine subsidiary of AES Corporation, a global utility company. The Salta power plant is comprised of two 365 MW gas fired generating units that use gas sourced from the gas fields located in northern Salta Province. The plant currently has approximately 200 MW of excess generating capacity that is considered to be sufficient for the Project's power requirements as defined in the PEA.
Ausenco completed a water supply and water balance analysis for the Project. This analysis, supported by metallurgical test work using water with varying salinity levels, derived a processing make-up water flow sheet comprising a combination of high salinity water from the neighbouring salar, fresh water derived from wells and desalinated brackish well water. Conceptual design, capital and operating costs for the construction and operation of a water treatment plant were completed by Schlumberger and have been included in the PEA. Based on current studies, the processing water flow sheet shows that there are adequate sources of water available for the Project. Additional prospective areas have recently been identified near the Project that may be sources of additional fresh water which could further optimize the process water flow sheet.
The Project has been designed to meet World Bank Guidelines for social and environmental management practices. Baseline studies completed to date have included surface and ground water quality, acid rock drainage, meteorological, and social. Provisions have been made within the mine plan and operating costs to account for the environmental protection and rehabilitation of the site once mining has been completed to meet the World Bank Guidelines.
On June 15, 2012, Lumina announced that it had entered into a strategic review process to enhance shareholder value. The completion of the PEA is an important step in the progress of the strategic review process. Additional site visits to the Project are planned for the 2nd quarter of 2013 to allow interested parties to complete their technical review of the Project.
Call-in details for the conference call to be held on April 9, 2013 at 11:00am (Pacific Time) are:
North American toll-free: 1-800-769-8320
A replay of this conference call will be available from Tuesday, April 9 until Tuesday, April 23 and will be posted on Lumina's website at www.luminacopper.com. The replay numbers are:
North American toll-free: 1-800-408-3053
LUMINA COPPER CORP
David Strang, President & CEO
CAUTION REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS: Information and statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation and the U.S. Private Securities Litigation Reform Act of 1995 (hereinafter collectively referred to as "forward-looking statements") that involve risks and uncertainties. This news release contain forward-looking statements, such as estimates and statements that describe Lumina's future plans, objectives, or goals, including words to the effect that the Lumina or management expects a stated condition or result to occur. Examples of forward-looking statements in this news release include information and statements with respect to: Lumina's plans and expectations for the Project; the results of the PEA, including, base case parameters, assumptions and analysis; forecasts of net present value, internal rate of return, initial and sustaining capital costs, operating costs and cash flows and sensitivity analysis, taxes, and royalties; plans related to mine and concentrator development and design, operations, equipment and infrastructure, including proposed throughput, production schedule and life-of-mine estimates for the Project; capital intensity on initial capital estimate and underlying capital cost and production forecasts; plans related to mineral processing and recovery methods; forecast metal recoveries; copper, gold and molybdenum price projections; mineral resource and cutoff grade estimates and underlying assumptions; estimates of power, transportation, water and labour requirements and costs; LOM stripping ratios; preproduction stripping requirements; potential to optimize the process water flow sheet; plans to meet World Bank Guidelines regarding social and environmental management practices; plans to address environmental protection and rehabilitation; and plans related to Lumina's strategic review process.
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