Web Site: www.CuMtn.com
VANCOUVER, July 11, 2013 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces production results for the second quarter of 2013 from the
Copper Mountain mine located in southern British Columbia.
Mill improvements were achieved during the quarter, in spite of the mill
transformer loss time incident in mid May. The mine exited the quarter
on a positive note with June's mill availability of 92.3% and copper
production of 6.1 million pounds for the month. The mine produced 15.7
million pounds of copper, 5,600 ounces of gold, and 71,000 ounces of
silver during the three months of operations ended June 30, 2013.
For the second quarter ended June 30, 2013 the mine shipped 28,200 wmt
of concentrate containing approximately 14.7 million pounds of copper,
5,500 ounces of gold, and 66,000 ounces of silver generating an
estimated $53.3 million in gross revenue.
Mill throughput improved slightly over the first quarter of 2013,
averaging 31,275 tpod. Further improvements with high energy blasting
and contract crushing ahead of the SAG mill are expected to be
reflected in the third quarter. The mill processed a total 2.5 million
tonnes of ore at an average grade of 0.33 % copper during the quarter
as compared to 2.2 for the three months ended March 2013. Mill
recoveries for the second quarter were 87.3% as compared to 82.7% for
the first quarter of 2013.
Mining activities continued from the Pit 2 and Pit 3 areas on plan and
averaged approximately 171,000 tonnes per day mined. During the
quarter a total of 15.6 million tonnes of material was mined, including
4.4 million tonnes of ore and 10.4 million tonnes of waste. The
projected life of mine strip ratio is 2 to 1 but higher in the early
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, and has continued to improve its
operations during the year; and attained design capacity in the summer
of 2012. 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
Note: 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
For further information:
Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email: Galina @CuMtn.com or
Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email: Rod@CuMtn.com