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Los Andes Copper names former COO Santiago Montt as interim CEO

Published: 10:00 02 Nov 2022 EDT

Los Andes Copper Ltd - Los Andes Copper Ltd names former COO Santiago Montt as interim CEO
Montt will continue to supervise the technical team led by Antony Amberg as chief geologist and Manuel Matta and Magin Torres as senior mining and metallurgical consultants

Los Andes Copper Ltd (TSX-V:LA), the Chile-focused mining company, revealed it has appointed its former chief operating officer (COO) and global mining executive Santiago Montt as its interim CEO with effect from the beginning of November this year.

Montt replaces outgoing CEO and president Michael Jones, who has resigned to pursue other business opportunities, the company said.

Montt was previously COO at Los Andes, where he was responsible for operations in Chile.

"Mr. Montt is a global mining executive with vast experience in leading teams in multinational mining companies. Prior to joining Los Andes, he spent over a decade at BHP overseeing corporate and legal affairs in the Americas, serving in different roles in Chile, Brazil, and Australia.

READ: Los Andes Copper on track to complete pre-feasibility study for Vizcachitas copper-molybdenum porphyry project in Chile in 4Q

"His passion for the development of successful and responsible mining will continue to drive the company's mission to maximize the value of the Vizcachitas project for all its stakeholders," said the company.

Montt will continue to supervise the technical team led by Antony Amberg as chief geologist and Manuel Matta and Magin Torres as senior mining and metallurgical consultants. This team has been working with the firm for many years and has been responsible for advancing the Vizcachitas copper project with Tetra Tech (NASDAQ:TTEK) in the pre-feasibility study.

"We sincerely thank Mike for his contribution to Los Andes, and wish him the best in his future endeavors. The Los Andes team remains focused in advancing the pre-feasibility study which we expect to finalize by the first quarter of 2023," added Los Andes Copper chairman Eduardo Covarrubias.

Vizcachitas sits along Chile's most prolific copper belt and is a copper-molybdenum porphyry deposit, which lies 120 kilometres (km) north of Santiago, Chile, in an area of good infrastructure.

A 2019 preliminary economic assessment (PEA) by Tetra Tech (NASDAQ:TTEK), highlighted that the Vizcachitas Project has a post-tax net present value (NPV) of approximately US$1.8 billion and an internal rate of return (IRR) of 20.77%, based on a US$3 per pound copper price.

Contact the author at giles@proactiveinvestors.com

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on 07/24/2023