Construction Updates

Q1 2025 Construction Update

04.23.2025

Construction continues to advance on schedule and first copper production is still targeted before the end of 2025. Overall project completion was at 78% as of March 31, 2025. During the first quarter there were approximately 440 contract personnel on site and 230,000 project hours were worked. Total project hours to-date are roughly 670,000 and there have been no reportable injuries or environmental incidents.

Summary of key activities in the first quarter:

• 29 production wells were drilled and constructed in the quarter, for a total of 80 out of the 90 wells planned to be drilled during the construction phase
• Point of compliance well drilling was completed in the quarter
• Work on the building structure for the electrowinning facility was completed except for the final roof and wall sections that will be installed after the electrowinning overhead crane is installed in April.
• Installation of the cathode stripping machine started in March
• The solvent extraction area continues to advance with a focus on pipe and settler welding and electrical installation
• Hydrotesting of all the field erected tanks was completed
• Sandblasting and painting of the carbon steel tanks was completed
• Factory acceptance testing of the tank farm E-house was completed and it was delivered to site
• Assembly of the modular office and dry buildings was completed, and work on the exterior finishing started
• The substation area progressed and the installation of major equipment is well advanced
• Work on surface infrastructure advanced and installation of high density polyethylene piping in the main pipeline corridor continued and the storm water box culvert under the pipe corridor was completed

1. 

   Electrowinning building structure is complete, except for the final roof and wall sections that will be installed after the electrowinning overhead crane is placed (March 2025)
2. 

   Installation of the cathode stripping machine commenced (March 2025)
3. 

   Electrowinning scrubber was installed (March 2025)
4. 

   Substation area has progressed with above-ground conductors, supports, and major equipment setting well advanced (March 2025)