VANCOUVER, Nov. 5 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces that the mobile mining equipment fleet for the Copper Mountain Project has been ordered with deliveries to match the mining plan. The Company has placed orders through SMS Equipment for more than $70 million worth of Komatsu mobile mining equipment to be delivered in stages over the next 18 months. Preproduction mining is scheduled to start in June 2010.
The equipment package includes 2 Komatsu PC8000 Electric Hydraulic Front Shovels with 42 m(3) buckets, 13 - 240 Ton Komatsu 830E-AC Electric Drive Trucks, 1 Komatsu WA1200 Front End Loader, 2 Komatsu D375A Track Dozers, and 1 Komatsu WD600 Wheel Dozer.
Mr. O'Rourke, Chief Executive Officer of the Company stated: "We are extremely happy with the commitment that the Company has received from SMS Equipment and Komatsu in making this transaction work, and are looking forward to a long term relationship that will help the mine maintain favourable costs and high productivity."
Mill foundations work at the Copper Mountain Project is progressing well and concrete will continue to be poured through December 2009 to complete the building foundations in preparation for the erection of the building steel in the spring of 2010.
About Copper Mountain Mining Corporation:
Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Project. The 18,000 acre mine site is located 15 km south of the town of Princeton in southern British Columbia. The Copper Mountain Project is a past producer of 1.7 billion pounds of Copper that closed in 1996, and therefore, there is significant developed infrastructure on site that the Company can build upon. The Copper Mountain Project has a current resource of approximately 5 billion pounds of copper and it is Copper Mountain's goal to develop the Copper Mountain Project as a mid tier copper and precious metal mine to produce approximately 100 million pounds of copper per year by mid 2011. Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Chief Financial 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: For further information: Don Graham: Director, Investor Relations, (604) 682-2992 ext. 224, Email: don@CuMtn.com or B&D Capital, (604) 685-6465, Website: www.CuMtn.com