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Canada
Copper Mountain Expansion Project (Copper Mountain)

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 Location:
14 km S from Princeton, British Columbia, Canada

  Project Contacts:
Copper Mountain Rd 20 km south (of Highway #3) PO Box 1400
Princeton
British Columbia, Canada
V0X 1W0
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Copper
  • Silver
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life21 years (as of Jan 1, 2020)
The Company continues to advance its plant improvement and optimization projects at the mine. The installation of an additional large column flotation cell to increase cleaner circuit capacity was completed and fully commissioned during the second quarter of 2022. This large new flotation cell provides additional cleaner circuit capacity to handle higher mill feed grades at higher tonnage rates. The new filter press has also been installed and is in the final stages of commissioning.


Owners

Source: p. 12,16
CompanyInterestOwnership
Mitsubishi Materials Corp. 25 % Indirect
Copper Mountain Mining Corp. 75 % Indirect
The Copper Mountain Mining Corporation, through a subsidiary, owns 75% of the Copper Mountain mine while Mitsubishi Materials Corporation (“MMC”) owns the other 25% interest in the Copper Mountain mine.

All claims are controlled by Copper Mountain Mine (BC) Ltd.

Contractors

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Deposit Type

  • Porphyry


Summary:

Mineralization at Copper Mountain is classified as an alkalic porphyry deposit. Although there are several areas that have been mined separately over time, both alteration and lower-grade mineralization occurs between these areas, and all mineralization is thought to be part of a large, single system.

As a generalization, mineralization at Copper Mountain consists of structurally controlled, multidirectional veins and vein stockworks, with peripheral disseminations. Mineralization had been subdivided into four types, as follows: 1) disseminated and stockwork chalcopyrite, bornite, chalcocite, and pyrite in altered Nicola and LHIC rocks; 2) hematite-magnetite-chalcopyrite replacements and/or veins; 3) bornite-chalcopyrite associated with pegmatite-like veins (coarse masses of orthoclase, calcite, and biotite); and 4) chalcopyrite-bearing magnetite breccias. Each mineralization type can be found in all pit areas, but each pit is unique with respect to the relative quantities and character of mineralization type.

Both mineralization and alteration demonstrate a zonation through the camp, though not in a manner typically associated with calc-alkaline porphyry deposits. Three main types of alteration have been defined—hornfels, sodic, and potassic; each has its own spatial and temporal distribution.

The Copper Mountain alkalic porphyry copper-gold camp occurs in the eastern volcanic belt of the Nicola Group, where the volcanic strata are intruded b ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining at the Copper Mountain Mine is by conventional open pit methods, using a 15-m bench height. The major components of this mining method are blasthole drilling, blasting, loading, and hauling. Pit walls are designed to geotechnical specifications and vary in slope angle depending upon lithology, alteration, and local ground conditions, with bench face angles of 70 degrees to 73 degrees, and berms of 9 m to 14 m, resulting in inter-ramp pit wall angles that range from 37 degrees to 52 degrees. Ramps are generally 33.5 m wide.

The mining schedule is based on operating 24 h/d, 365 d/a. The mine operations and mine maintenance departments’ shift schedules are planned to continue to be two 12-hr shifts per day, using four alternating crews.

Mining is done on a 24 h/d, 7 d/week basis, and the mining rate varies from 150 kt/d to 200 kt/d, depending on haulage distances, ore:waste ratios, equipment availabilities, and other factors. The current long-term mine plan was generated from pit design phases based on the optimized pit shells and Mineral Reserve block models from the Copper Mountain Mine Main pit, North Pit (Alabama), and the Ingerbelle pit. The mine plan uses the designed pit shells to generate a schedule that maximizes the use of the mining fleet and provides a balance between ore and waste rock movement with a steady supply of mill feed material.

It should be noted that the ultimate pit, the LOM mine production schedule generated by ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:
Average Annual Copper, Silver and Gold Productions (Years 1-10 full year only).

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 1061,908
Copper Metal in concentrate M lbs 1,979
Copper Concentrate kt 3,206
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required
Gold Payable metal koz  ......  Subscription required  ......  Subscription required
Gold Metal in concentrate koz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Daily processing rate  ......  Subscription required
Annual processing rate  ......  Subscription required
* According to 2020 study.
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Reserves at September 1, 2020:
Mineral Reserves are reported at a 0.10% Cu cut-off grade.
Resources are reported at two cut-off grades. The 0.10% Cu cut-off grade is a base case using NSR values.

CategoryTonnage CommodityGradeContained Metal
Proven 208,805 kt Copper 0.24 % 1,125 M lbs
Proven 208,805 kt Silver 0.85 g/t 5,717 koz
Proven 208,805 kt Gold 0.09 g/t 612 koz
Probable 253,534 kt Copper 0.22 % 1,248 M lbs
Probable 253,534 kt Silver 0.62 g/t 5,024 koz
Probable 253,534 kt Gold 0.11 g/t 892 koz
Proven & Probable 462,339 kt Copper 0.23 % 2,373 M lbs
Proven & Probable 462,339 kt Silver 0.72 g/t 10,741 koz
Proven & Probable 462,339 kt Gold 0.1 g/t 1,504 koz
Measured 168,166 kt Copper 0.254 % 940 M lbs
Measured 168,166 kt Silver 0.83 g/t 4.49 M oz
Measured 168,166 kt Gold 0.103 g/t 0.56 M oz
Indicated 433,989 kt Copper 0.212 % 2,274 M lbs
Indicated 433,989 kt Silver 0.633 g/t 9.9 M oz
Indicated 433,989 kt Gold 0.093 g/t 1.46 M oz
Measured & Indicated 654,395 kt Copper 0.223 % 3,214 M lbs
Measured & Indicated 654,395 kt Silver 0.684 g/t 14.39 M oz
Measured & Indicated 654,395 kt Gold 0.096 g/t 2.01 M oz
Inferred 323,502 kt Copper 0.199 % 1,420 M lbs
Inferred 323,502 kt Silver 0.501 g/t 5.21 M oz
Inferred 323,502 kt Gold 0.097 g/t 1.01 M oz

Commodity Production Costs:

CommodityUnitsAverage
C1 cash costs Copper USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2020
OP mining costs ($/t mined) USD 1.55 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Expansion CapEx $M USD  ......  Subscription required
Equipment leasing costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 1,646
G&A costs $M USD 116.9
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 1, 2020
....................... Subscription required ....................... Subscription required Subscription required Sep 1, 2020
....................... Subscription required ....................... Subscription required Subscription required Sep 1, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 4, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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