Mining Analyst, Stefan Ioannou talks about Copper Mountains’ growth initiative
Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia. It produces over 90 million pounds of copper equivalent per year with a large resource that remains open laterally and at depth. Copper Mountain also has the permitted, development stage Eva Copper Project in Queensland, Australia. In addition they have an extensive 397,000 hectare highly prospective land package in the Mount Isa area.
“A major growth initiative for Copper Mountain right now is an expansion of their existing mill capacity from about 40,000 tons a day up to 45,000 tons per day”, says Steffan Ioannou. Ioannou feels that this will eventually feed into a Phase 2 expansion, which should boost economics and mine life going forward.
Copper Mountain Mine
The mine is located about 20 km south of Princeton, British Columbia. The Copper Mountain mineral claims cover approximately 18,000 acres. It also consists primarily of 135 crown grants, 176 mineral claims and 14 mining leases. The property is accessible by a combination of highways and paved roads. Moreover, it is close to the port of Vancouver that provides service for shipment of copper concentrates.
Further, the mine is a conventional open pit, truck and shovel operation. The mine has a 40 ktpd plant. It utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits. In addition, the plant throughput is expected to increase to 45 ktpd in 2020 with the installation of a third ball mill. With the plant expansion, average annual production is expected to increase to 116 million pounds of copper equivalent from 90 million pounds of copper equivalent.
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