Introduction to the Valley copper project

"This paper covers the development of the property to its present production level of20,000 tonnes per day from the Valley Mine. It will also review the analysis of various case studies for the expansion of the project to its full potential, and discuss the impact of the recent structural change in the copper market on the development of a large low-grade deposit such as Valley.IntroductionIn 1964 Cominco participated, along with a number of other companies and individuals, in the formation of Valley Copper Mines Ltd. This company was formed in order to facilitate exploration on a large number of mineral claims held by these parties in British Columbia's Highland Valley, approximately 400 km northeast of Vancouver (Fig. I). Cominco 's ownership of Valley Copper was gradually increased over the years bot h through shares gained for exploration expenditures and through shares purchased on the open market. By the mid- 1970sCominco' s interest in Valley Copper exceeded 80%.ExplorationExploration from 1964 to 1969 led to the discovery of a massive porphyry copper depo sit now known as the Valley orebody. A claim boundary divided the deposit with 80% of it on Valley Copper claims and 20070 on claims held by Bethlehem Copper which was already mining adjacent copper orebodies. During the period when the Valley ore body was discovered, exploration by other companies resulted in the discovery of the large Lornex and Highrnont deposits nearby. The stage was now set for the Highland Valley to become an important copper-producing area (Fig. 2)."