Analyst Speaks About Copper Mountain Mining
Mining Analyst, Stefan Ioannou weighs in on Canadian based mining company, Copper Mountain Mining.
Copper Mountain Mining Corporation 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 (>28 square miles. 73 square km) 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 to fully appreciate the property’s full development potential.
Copper Mountain acquired Altona Mining
Copper Mountain acquired Queensland Australia based Altona Mining in April 2018 (see News Releases November 19, 2017). In the transaction Copper Mountain acquired $30 million in cash, the development-ready, permitted Eva Copper Project, and the 379,000 hectare* mineral land package in the prolific Mt. Isa Inlier area of Queensland. It is envisaged that an open pit copper-gold mine and 7 million tonnes per annum concentrator will be developed. The Eva Copper Project has a proposed annual production of 80 million lbs of copper (39,000 tonnes of copper) and 17,200 ounces of gold for a minimum of 14 years. In addition, the massive Australian exploration land package is in the area of several world class mines and will be explored to follow up on multiple targets and recent discoveries.
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