Newmont valued a producing mine in 2022 at 4.5x the future EBITDA.

https://www.sec.gov/Archives/edgar/data/1853021/000110465922034725/tm229491d1_ex99-1.htm

Sumitomo paid around 3.5x the future EBITDA for 30% of QB2 in 2018.  However, they also needed to pay additional capex on top of that.  Initially, this was another $396M, which would have increased the EBITDA ratio to 4.5x. (slides 12 & 27)

Teck valued their business at 5.5x to 6.5x the future EBITDA in 2018. (slide 8)

https://www.teck.com/media/QB2-Partnership-and-Sanctioning-Conference-Call.pdf

Today, Teck says that pure copper plays are valued at 7x-10x the future EBITDA. (slide 15)

https://www.teck.com/news/events/copper-growth-conference-call-april-18,-2023

Assuming SC could generate around $800M US of EBITDA with currentl LT pricing, that gives me a valuation of $900M US (4.5x EBITDA) to $2B US (10x EBITDA) once SC will be closer to production (in 5-10 years)?

How much is that worth today?

MoneyK