Freeport Resources’ wholly-owned Yandera Copper Project is located 95 kilometres southwest of the northern seaport of Madang in Papua New Guinea. The Yandera project is situated in the highly prolific PNG Orogenic Belt, the same geological arc as some of the world’s largest gold and copper deposits including Grasberg, Frieda River, Porgera, Lihir, Wafi-Golpu and Kainantu. The Yandera copper porphyry system is located within the central portion of the granted 245.5-square kilometre exploration licence that covers over 30 kilometres of strike over the highly prospective Bundi Fault zone.
Freeport Resources acquired the Yandera Copper Project in 2021. Yandera offers an advanced-stage copper project with over USD$200 Mil in exploration and development expenditures. As one of the largest undeveloped copper deposits in the world, Yandera is a project of strategic national interest in PNG and has the potential to become one of the country’s most significant copper mines. The project’s proximity to Asia, the world’s largest copper refiner and consumer, positions Yandera as an attractive potential long-term source of copper supply.
In January 2024, Papua New Guinea’s Mining Resource Authority approved the renewal of the Yandera Copper Project exploration license EL 1335, through November 19, 2025. Freeport Resources is planning to commence work programs towards a Definitive Feasibility Study and accelerate discussions with potential strategic partners for development of the mine.
Summary of Yandera Copper Project, 100% basis*
| Freeport Resources ownership: | 100% |
| Location: | 95 km SW of Madang, PNG |
| Resource at 0.15% Cu cut-off: | 959 Mt grading 0.37% CuEq |
| Contained copper: | 3,135,000 tonnes Cu (6.9 billion lbs Cu) |
| Forecast treatment rate: | 33 Mtpa |
| Expected mine life: | 20 years |
| Forecast annual production: | 100,000 tonnes Cu |
| Forecast initial capital costs: | US$930 million |
| Forecast average operating cost: | US$1.95/lb Cu |
| Project post-tax NPV at 10%: | US$1,038 million |
| Project post-financing IRR: | 23.5% |
