Battery Mineral Resources Corp. Announces Operations, Permitting and Community Relations Update
Battery Mineral Resources Corp. Announces Operations, Permitting and
Community Relations Update
Vancouver, British Columbia – (December 5, 2023) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is very
pleased to provide an operational, permit and community relations update.
The Punitaqui copper mining complex (“Punitaqui”) includes the copper concentrator
or “plant”, tailings storage facility, electrical, instrumentation and mechanical
maintenance facilities, administration offices, assay laboratories, cafeterias, copper
concentrate storage and loadout facilities, and the Cinabrio, San Andres and Dalmacia
mines and includes the soon -to-be established Cinabrio Norte mine (see Figures 1
and 2).
Figure 1: Aerial View of Punitaqui Plant
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Figure 2: Map Showing Location of Plant, Cinabrio Mine, Cinabrio Norte,
San Andres, and Dalmacia Deposits (the Punitaqui Mining Complex)
Operational Readiness
The Company is pleased to report that personnel hiring for the resumption of full
operations at Punitaqui is on schedule. Furthermore, final mine maintenance at the
San Andres mine including rehabilitation of ground support, re -activation of
compressed air, ventilation, power, and water in preparation for resumption of full
mining operations, commenced in late November. A contract for the final stages of
Punitaqui plant maintenance and rehabilitation has been executed and activities
commenced December 4th with the aim of full operational commissioning of the plant
in March and plant start-up in April of 2024.
Environmental and Operational Permitting
Permits have been granted allowing for thickened tailings deposition into the tailing’s
storage facility of up to 1,500,000 tonnes - representing approximately 20 months of
mine and plant operations during the first phase of operations at Punitaqui.
The company expects to receive a permit for “dry stack” or filtered tailings deposition
in late 2024. Filtered tailings deposition has many benefits over thickened tailings
deposition including much lower water consumption in plant operations and far
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greater capacity for tailings storage over the same physical footprint. Construction
and commissioning of the tailings filter plant will take nine months and thereafter,
filtered tailings are to be deposited . Deposition of filtered tailings will allow for an
additional eight-plus years of tailings storage at our permitted mining rate. This will
be accomplished over nearly the same footprint the current tailings storage facility
occupies.
A permit for the San Andres mine has been granted which allows for BMR to
commence drifting, ramp construction and mine development on two different
elevation levels and allows for establishment of new underground exploration drilling
platforms. This mine development will establish access to new zones of copper
mineralization for the forthcoming mine production. Other activities at the San Andres
mine include final achievement of equipment, supplies and personnel arrangements.
VAT Recovery Extension Approval
As in many developed countries, Chile has a Value Added Tax (“VAT”) on goods and
services. Following BMR’s acquisition of the Punitaqui Mining Complex, it filed an
application with, and received approval from, the Chilean Ministry of Economy,
Development and Tourism (the “Ministry of Economy”) to participate in a VAT -
recovery program set in place by the Chilean government to incentivize Chilean
exports (the “VAT Program”). The VAT Program allows BMR to recover the VAT paid
on goods and services purchase, once it submits verified documentation, in advance
of achieving agreed -upon amounts of to -be-exported mineral concentrates. This
VAT-recovery program provides BMR with a source of cash that it reinvests in its
assets in Chile. On November 29, 2023, the Ministry of Economy issued a resolution
to extend the VAT -recovery program for BMR until December 2025 , which is a
welcomed positive result . The new cap for total VAT recovery for the Company is
US$7.0 million. As of today, Minera BMR has recovered a total of US$3.1 million in
VAT recovery since it began to operate in Chile, with the remaining US$3.9 million
expected to be recovered prior to December 2025. The remaining US$3.9 million
allowed to be recovered by BMR will more than suffice until such time that the
Punitaqui Mining Complex begins to generate revenue and cash flow from operations.
Community Activities
As previously disclosed, a n a greement that will grant BMR surface rights for
exploration of “blue sky” areas on BMR mineral claims has been signed with the local
community of Potrerillos. BMR geologists have since defined the drill target locations
within the “blue sky” areas . T he company’s next step, expected in the next few
weeks, is to formalize easement agreements with the Potrerillos community.
Conversations with members of the community of Punitaqui to establish easement
agreements for the Dalmacia mine road are well advanced.
BMR’s social and community relations consultant, Integratio Mediação Social e
Sustentabilidade (“Integratio”) has completed the community relationship policies
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and consultation manuals that will support and guide the Company’s social
engagement strategy for the future. The Company is currently proactively engaging
with both of our local communities of Potrerillos and Punitaqui as well as the local
and regional authorities on the status of the project in terms of social impact and
employment opportunities.
Additionally, the Ministry of Public Workings (MOP) is currently enhancing part of the
existing road that connects the Punitaqui Plant to the Dalmacia mine, and Battery
has reached an agreement to contribute to the widening of the road and an increase
of the asphaltic pavement to support trucking of ore from Dalmacia to the Punitaqui
Plant. MOP field work for this began early November and is expected to be completed
in Q1 2024.
The Company is also proud to update its activities with the regional association of
mining companies, CORMINCO . In the past three months BMR has participated in
several meetings organized by CORMINCO , with regional authorities which have
included one of the senators of the region as well as the presidential delegate of the
Limari Province. These meetings have been extremely useful as an introduction to
local mining suppliers and contractors and has aided in accelerating our overall
permitting process. BMR has also been participating in meetings with the Chilean
national miner’s association, SONAMI, and have enjoyed their support and begun
participating in their specialized committees.
The Company looks forward to providing additional updates to the market in the
coming weeks as we move Punitaqui back into sustainable, profitable production for
all stakeholders.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders
exposure to the global mega -trend of electrification while being focused on growth
through cash-flow, exploration, and acquisitions in favourable mining jurisdictions.
Battery Mineral’s mission is the discovery, acquisition, and development of battery
metals (namely cobalt, lithium, graphite, and copper), in North America, South
America and South Korea and to become a premier and responsible supplier of
battery minerals to the electrification marketplace. BMR is currently pursuing a near-
term resumption of operations of the Punitaqui Mining Complex, a past copper-gold-
silver producer, in the Coquimbo region of Chile. BMR is the largest mineral claim
holder in the historic Gowganda Cobalt -Silver Camp in Ontario, Canada, and
continues to pursue a focused program to build on the recently announced, +1 -
million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns
100% of ESI Energy Services, Inc. (including ESI’s wholly owned USA operating
subsidiary, Ozzie’s, Inc.), a profitable mainline pipeline and renewable energy
equipment rental and sales company with operations in Alberta, Canada and Arizona,
USA. Battery Mineral Resources is based in Canada and its shares are listed on the
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Toronto Venture Exchange under the symbol “BMR” and on the OTCQB under the
symbol “BTRMF”. Further information about BMR and its projects can be found on
www.bmrcorp.com.
For more information, please contact:
Martin Kostuik, CEO
Phone: +1 (604) 229 3830
Corporate Communications
IBN (InvestorBrandNetwork)
www.investorbrandnetwork.com/
310.299.1717 Office
Twitter: @BMRcorp_
Facebook: Battery Mineral Resources Corp. | Facebook
LinkedIn: Battery Mineral Resources Corp.: My Company | LinkedIn
Website: www.bmrcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this
press release.
Forward Looking Statements
This news release includes certain “forward -looking statements” under applicable
Canadian securities legislation. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements reflect the beliefs,
opinions and projections of the Company on the date the statements are made and
are based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance, or achievements to be
materially different from the results, performance or achievements that are or may
be expressed or implied by such forward -looking statements and the parties have
made assumptions and estimates based on or related to many of these factors. Such
factors include, without limit ation, the ability of the Company to obtain sufficient
financing to complete exploration and development activities, risks related to share
price and market conditions, the inherent risks involved in the mining, exploration
and development of mineral prope rties, the ability of the Company to meet its
anticipated development schedule, government regulation and fluctuating metal
prices. Accordingly, readers should not place undue reliance on forward -looking
statements. Battery undertakes no obligation to update publicly or otherwise revise
any forward -looking statements contained herein, whether as a result of new
information or future events or otherwise, except as may be required by law.