BRITISH COLUMBIA - Copper Mountain Mining of Vancouver and the Upper Similkameen Indian Band (USIB) have concluded a mutually beneficial impact benefits agreement (IBA) for the development of the Copper Mountain project located 20 km south of the town of Princeton.
The IBA covers the development, operation and reclamation of the Copper Mountain project. Under the agreement the company recognizes and respects the aboriginal title and rights as asserted by the USIB, and the USIB acknowledges that the company holds a Mines Act Permit and holds mineral tenures within USIB territorial area of responsibility as granted under the British Columbia Mineral Tenure Act. The USIB intends to secure beneficial working relationships with corporations who operate within its territorial area of responsibility.
The IBA is a mechanism through which the USIB has provided its acknowledgement and acceptance for the Copper Mountain project, according to the company.
Production is expected in June 2011. See the presentation at www.CuMtn.com for details.