AW1 7.69% 14.0¢ american west metals limited

Selling radioactive Congo cobalt mixed with copper concentrate...

  1. 3,050 Posts.
    lightbulb Created with Sketch. 1668

    Selling radioactive Congo cobalt mixed with copper concentrate to smelters is dangerous for several reasons:

    • Radiation Exposure: Smelter workers (Operators and maintenance crews) could be exposed to harmful radiation if they aren't properly equipped.
    • Contaminated Products: Radioactive copper could end up in final products, posing a health risk to consumers.
    • Environmental Damage: Radioactive waste from smelting could contaminate the environment. eg. Smelter fumes, dust emissions, contaminated water.
    • Legal issues: Selling radioactive materials could lead to legal trouble for the mine, including fines and lawsuits.

    How Congo Copper Mine Might Change Practices:

    The article suggests the mine might implement changes like:

    • Improved Separation Techniques: The main focus would be separating cobalt-uranium rich zones within the pit more effectively via improved grade control practices. The processing plant in its current configuration appears to only concentrate the copper-cobalt ore, thus making the Cu-Co concentrate unsellable.
    • Radiation Screening: Screening all extracted materials from the pit prior to crushing for radiation levels.
    • Investing in Safety Measures: Providing proper protective gear and training for workers handling radioactive materials. Improved dust management at the pit with water carts, Operators may need to wear dust masks as standard practice and undergo regular OH&S monitoring.

    Potential Impact on Copper Prices:

    The suspension could indeed affect copper prices which are close to US$4.50/lb:

    • Reduced Supply: A significant copper mine being out of operation reduces overall supply.
    • Increased Demand for Safe Copper: Demand might shift towards copper from mines with guaranteed low radiation levels.

    However, the impact depends on:

    • Duration of Closure: A short shutdown might have a minimal effect.
    • Alternative Sources: Availability of copper from other ore zones at the affected mine to meet demand.
    • Alternative Smelter destination: The contaminated copper concentrate may need to be sold to copper smelters capable of treating highly radioactive ore sources. Also, to get the concentrate into the correct specification they may need to blend it down to dilute the level of contaminates.

    Overall

    This incident highlights the importance of safe mining practices to protect workers, consumers, and the environment. The impact on copper prices depends on how long the closure lasts and if alternative treatment routes could be utilised.

 
watchlist Created with Sketch. Add AW1 (ASX) to my watchlist
(20min delay)
Last
14.0¢
Change
0.010(7.69%)
Mkt cap ! $72.47M
Open High Low Value Volume
13.0¢ 14.0¢ 13.0¢ $175.3K 1.321M

Buyers (Bids)

No. Vol. Price($)
1 9700 13.5¢
 

Sellers (Offers)

Price($) Vol. No.
14.0¢ 1019912 8
View Market Depth
Last trade - 15.29pm 07/06/2024 (20 minute delay) ?
Last
13.5¢
  Change
0.010 ( 3.85 %)
Open High Low Volume
13.0¢ 13.5¢ 13.0¢ 619055
Last updated 15.05pm 07/06/2024 ?
AW1 (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.