QB2 Slow Motion Disaster
posted on
Oct 24, 2023 10:31AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
"The mining company says it now expects the QB2 project to cost between US$8.6 billion and $8.8 billion, up from earlier guidance for between US$8.0 billion and US$8.2 billion."
With just the amount that is over budget you could have built two Schaft Creek projects. With all the talk of Galore and none for Schaft it looks like Teck will never learn. Always penny wise and pound foolish and a half cycle too late.