How Copper Mountain Mining plans to increase output for investors.
Copper Mountain Mining Corporation (TSX: CMMC) is a Canadian based mining company whose flagship asset is the Copper Mountain mine located in southern British Columbia, near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who own 25% of the mine. The Copper Mountain mine produces about 100 million pounds of copper equivalent production per year, including significant gold and silver credits, all of which are shipped to Japan for smelting in one of Mitsubishi’s copper smelters.
The Copper Mountain mineral claims cover ~18,000 acres. This site has a large resource of copper that remains open laterally and at depth. The mine has significant exploration potential that is being explored over the next few years to fully appreciate the property’s full development potential.
The mine is a conventional open pit, truck and shovel operation. Mining is divided into multiple development phases with sequential pushbacks in each of the three main pit areas. This development sequence is designed to maximize the discounted cash flow based on the ore value which is reflected in the planned pit phases. In order to maximize the profit in the initial years, the Company is processing ore greater than 0.21% Cu, while ore that is less than 0.21% Cu but greater than 0.1% Cu is being mined and stockpiled (low grade stockpile) for processing in later years.
The mine utilizes a conventional crushing, grinding, and flotation to produce copper concentrates with gold and silver credits. The facility is designed to operate 24 hours per day, 365 days per year with a 92% mechanical availability including pre–scheduled downtime for equipment maintenance. Once processed, the concentrate containing the metals are exported overseas to Japan, where it is processed at one of Mitsubishi’s smelters to recover the copper, gold and silver. The company has an off take agreement with MMC, where MMC have agreed to purchase 100% of the projects concentrate at LME spot rates at the time of settlement.
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