Global average copper percentage in Cu mines : 0.59%
Average for Chile 0.59%, and Peru 0.56% Declining trend. 2005-2017 decline from 0.74% to 0.59%.
Oyu Tolgoi Mongolia grade 0.66%
World underground mine sulphide ore grade average is 1.09% making up 9% of total world production. vs 1.39% and 12% in 2005.
Av grade in worst jurisdiction in the world DRC is 2.85% Zambia av. has gone from 1.26% 2014 to 0.8% in 2017.
Australia: Av. grade 1.25% in 2017. Mt Isa 2.3% Cobar 4.6% De Grussa (Sandfire) 4.5% Olympic Dam 2.2%.
So, MLX grade planned of 1.5% is high grade by world standards. The av. 2.4% grades in the newly drilled periphery are approaching the grades in DRC, especially in 'Region 4', and are double the OZ average.
So it looks like MLX grades are far from poor, being in the top 10% at least, and higher than the Oz average. Australia has amongst the highest grades in the world these days, (We also might have among the world's highest award pay rates for miners. Directors too pay themselves very well. )
MLX Price at posting:
19.0¢ Sentiment: None Disclosure: Held
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