VANCOUVER, Dec. 11, 2013 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") provides the following operation update and 2014 production guidance for its operations at the Copper Mountain mine located in southern British Columbia.
The Company's goal for 2014 is to continue to optimize performance of the Copper Mountain Mine, to maximize our copper production while mining from both Pit 2 and Pit 3 areas during 2014. Mining at a rate of 175,000 tpd is planned to continue during 2014 with copper production forecast to be approximately 80 to 90 million pounds.
Mill throughput during the month of September was at an average of 31,693 tpd compared to 26,000 for the first half of 2013, an increase of 21.9%, however, during November the average throughput decreased to 26,123 tpd as a result of operating with one ball mill for part of the month. September and October copper production was 6.8 and 6.5 million pounds respectively, while November's production of copper was lower at 5.2 million pounds as a result of operating with only one ball mill for part of the month. Mill throughput was maintained in the 1,000 tpoh range during the period when only one ball mill was available. The target throughput is 32,000 tpd while utilizing portable crushers. The permanent secondary crusher is expected to be installed in the late summer of 2014 and this should enhance mill throughput.
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns the remaining 25%. The Copper Mountain mine commenced production in the summer of 2011.The construction and startup of the 35,000 tpd facilities were developed on schedule and on budget but the rampup to full production has been challenging. The ore is harder than was anticipated in the design and crushing the SAG mill feed is needed to achieve full capacity. Plans are in place to achieve the full production goals. The 18,000 acre site has a resource of approximately 5 billion pounds of copper and remains open laterally and at depth. The mine has significant exploration potential that will need to be explored over the next few years to fully appreciate the properties full development potential. Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng.
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information:
This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.
SOURCE: Copper Mountain Mining Corporation
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