Soon To Acquire Australian Altona Mining
Copper Mountain Mining is on the verge of acquiring Australian based Altona Mining.
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 18,000 acre site has a large resource of copper that remains open laterally and at depth. The mine has significant exploration potential that will need to be explored over the next few years to fully appreciate the property’s full development potential.
Copper Mountain Mine (“CMM”) is located about 20 km south of Princeton, British Columbia and 300 km east of the port of Vancouver. Copper Mountain Mining Corporation (“CMMC”) owns 75% of the CMM and Mitsubishi Materials Corporation (“MMC”) owns the remaining 25%.
The Copper Mountain mineral claims cover approximately 18,000 acres and consist primarily of 135 crown grants, 176 mineral claims and 14 mining leases. Copper Mountain is located in an area with well–developed infrastructure. The property is accessible by a combination of highways and paved roads, and it is close to the port of Vancouver that provides service for shipment of copper concentrates. The mine is a 20–minute drive from local communities that provide goods, services and personnel.
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