BRITISH COLUMBIA - Copper Mountain Mining of Vancouver has received its amended Mines Act Permit M29 from the province for an open pit and concentrator near Princeton. With the permit in hand, the company has approval for its mine plan and reclamation program as well as the green light to begin construction of the Copper Mountain project.
The company has finished the foundations for the mill and is ready to begin erecting the steel for the building.
Two Komatsu D375 dozers have arrived at the mine site in preparation for preproduction activities. Copper Mountain has also ordered two Komatsu electric-hydraulic shovels, 13 Komatsu 240-t trucks, a Komatsu front-end loader and a Komatsu wheel dozer. At least half the production fleet will be assembled by the end of August 2010.
The company says the project remains on track to begin preproduction mining later this summer and full production by June 2011 at a rate of 35,000 t/d.
The most recent Copper Mountain corporate presentation may be viewed at www.CuMtn.com. The company's recent bought deal financing was oversubscribed for gross proceeds of $30 million.