Glencore banks on Anuri mine to extend life of Raglan nickel-copper project

Glencore (LSE: GLEN) has inaugurated the Anuri mine, which will lengthen the Raglan nickel-copper project’s life for at least 20 years. The company says this is undertaking highlights its ongoing commitment to the local communities in which it operates.

The mine’s name Anuri, which means “wind” in Inuktitut, was chosen by a committee of Raglan employees. The mine is part of the Sivumut or “moving forward” project in Nunavik.

Glencore director of projects, geology and exploration Jan-Francois Verret said the project was a challenge on every level. “… particularly given the pandemic, the Arctic climate and numerous logistical challenges. Nevertheless, we completed the Sivumut project ahead of schedule, under budget and with everyone's safety at the heart of every step. We achieved this through outstanding collaboration within our team and with our partners."

The Raglan mine began operations in 1997. It was the first mining project to sign an impact and benefits agreement with the local Indigenous bands. With the Sivumut project, Glencore has continuously improved the Raglan agreement, particularly in the area of land use, culminating in the current ESG protocols that meet Quebec’s provincial environmental act and the James Bay and Northern Quebec Agreement.

The Sivumut project is composed of two phases: Phase 2 and Phase 3 of the Raglan mine. Phase 2 consists of the expansion of an existing mine, the Qakimajurk mine, and the opening of a new underground mine, the Anuri mine project. Mining is expected to take place from 2020 to 2035. The extension of the Qakimajurk mine, known as project 8, was completed in 2021.

The Sivumut project lies entirely within the property boundaries of the Raglan mine. All mining will take place underground to reduce the surface footprint of the activities. Existing infrastructure is leveraged – the concentrator, housing, port facilities at Deception Bay, airport, roads, and all water treatment systems.

The Raglan project has proven and probable reserves of 15 million tonnes grading 2.54% nickel, 0.72% copper and 0.06% cobalt. Reserves are included in the measured and indicated resource, which totals 44 million tonnes at 2.51% nickel, 1.96% copper, and 0.05% cobalt.

Visit the Raglan mine website at www.Glencore.ca/en/Raglan/.