The Antamina copper mine is one of the best-known copper mines in the world. The open-pit operation, located in the Andes Mountain range of Peru, has been in consistent production since 2001. Regarded as the world’s third-largest copper mine on a copper equivalent basis, Antamina contains copper Resources that support a multi-decade mine life producing high-grade copper. Horizon Copper holds a 1.66% Net Profits Interest on the Antamina project*, which is paid by Teck Resources Limited in Canada. This foundational asset represents years of cash flow and growth for Horizon Copper’s project portfolio.
Hod Maden is a high-grade copper-gold project located in northeastern Türkiye. This impressive asset won Discovery of the Year at the Prospectors & Developers Association of Canada in 2019. The project is operated by SSR Mining Inc, a Canadian mining company with extensive experience developing mines in Türkiye. The asset received its last major permit in 2022 and SSR Mining continuing to advance the project towards full scale construction, with commercial production expected in 2027. The 2021 Feasibility Study demonstrated Mineral Reserves (Proven & Probable) of 2.5 million ounces of gold and 287 million pounds of copper over an initial 13-year mine life*. Horizon owns a 30% interest in the Hod Maden project.
*See Hod Maden Feasibility Study technical report dated July 13, 2022, available on www.sedar.com under the Company’s issuer profile.
The Oyu Tolgoi copper project in Mongolia is considered to be one of the most important copper mines in the world. Horizon owns a 25% equity stake in Entrée Resources, a Canadian mining company that holds a unique 20% carried joint venture interest on a significant portion of the Oyu Tolgoi copper-gold project. Through this equity stake, Horizon Copper shareholders gain exposure to a truly incredible copper asset that is expected to cash flow for decades to come.