The new plan includes a proposed mill expansion to 65,000 tonnes per day (t/d) for the Copper Mountain mine
Copper Mountain Mining has announced a new life-of-mine (LoM) plan for the Copper Mountain mine located in southern British Columbia, Canada.
The new LoM plan includes a proposed mill expansion to 65,000 tonnes per day (t/d). Estimated to be 21 years, the new mine life also includes three years of processing stockpiled ore.
Copper Mountain Mining holds 75% stake in Copper Mountain mine, which is located about 20km south of Princeton, British Columbia and 300km east of the port of Vancouver. The remaining 25% stake is held by Mitsubishi Materials Corporation (MMC).
Total production at the mine is expected to reach two billion pounds of copper, 978,000 ounces of gold and 6.7 million ounces of silver.
Proposed expansion is in addition to 45,000 t/d expansion currently underway
The proposed expansion, which is in addition to the 45,000 t/d expansion currently underway, increases Copper Mountain’s after-tax net present value (NPV) by more than 60% to $1bn to higher annual production and lower costs.
Copper Mountain Mining president and CEO Gil Clausen said: “The 65ktpd Expansion, which moves the Copper Mountain Mine to about a billion dollars of asset value, clearly underscores the mine’s quality, and our team’s ability to potentially grow reserves and value further.
“In two years, we have more than doubled the mine life, grown the mine’s productive capacity, increased net asset value and significantly decreased cash costs.”
The proposed 65,000 t/d expansion will see the installation of a high pressure grinding roll (HPGR) circuit, a fourth ball mill, regrind circuit, Vertimill, additional rougher and cleaner flotation circuits, and electrical system upgrades.
As per the technical report of the expansion plan, construction will be completed at the end of 2023 and be commissioned in early 2024.
Copper Mountain estimates the total life of mine expansion capital, including for the mill expansion which is underway and the integration of New Ingerbelle, to be $204m.
Last year, Copper Mountain Mining has revealed a new integrated mining plan for its Copper Mountain Mine and the New Ingerbelle property.