Typically an open cut mine could be as deep as 300 metres. There are larger deposits (gold I think) in Australia where they have justified going down to 450 but generally you should treat 300 as the maximum.
The mine designs that I’ve seen recently (LTR, CXO) have involved a more shallow open pit followed by underground for the rest. This is likely to become the norm. Underground is more expensive but means less land disturbance, less dumping of material on the surface, better selectivity in mining the ore versus waste rock, lower carbon emissions. Its also easier to negotiate underground mining with traditional owners due to the lower environmental impact. Overall that means a better ESG rating for the project. Very important if you advertise yourself as a Green company
GT1 Price at posting:
82.8¢ Sentiment: Buy Disclosure: Held
