Copper Development Corporation (CDC) is a copper mining and development company that holds interests in two porphyry copper projects located on the island of Negros in the Philippines.
The Sipalay-Hinoba-an Copper Project (the “Hinoba-an Project”) hosts two known deposits, the Don Jose (DJ) deposit and the A1 deposit, with an estimated Mineral Resource of 339 million tonnes grading 0.35% Cu containing around 2.6 billion pounds of copper metal. A significant amount of exploration and metallurgical testwork has already been conducted on the project including the completion of a comprehensive technical report.
CDC also has a 70% interest in the neighbouring Basay Project with an estimated Mineral Resource of 131 million tonnes grading 0.48% Cu containing around 1.4 billion pounds of copper metal. The Basay Project operated from 1979 to 1983 producing some 45,500 tonnes of copper metal in concentrate from open pit and underground operations. Recent drilling indicates high grade copper and gold-silver-molybdenum mineralisation.
Both projects are ideally located in close proximity to the growing copper market in Asia.