Copper Mountain reports record Q2 output
TORONTO (miningweekly.com) – The TSX-listed stock of Copper Mountain Mining was on Wednesday trading higher after the company reported record second-quarter output from its eponymous mine in British Columbia.
For the three months ended June, the Vancouver-headquartered miner, which had been struggling with ore-crushing challenges in recent quarters, recorded output of 19.9-million pounds of red metal – a 4% increase compared with the first quarter.
The concentrate also contained 5 000 oz of gold and 113 300 oz of silver.
The mill processed a total of 2.8-million tonnes of ore at an average grade of 0.388% copper and achieved 90.2% availability and averaged a total of 30 450 t/d during the period.
Copper Mountain said mining activities shifted more toward Pit 3 during the quarter and mining in the Pit 2 area was entirely focused on the south-west end of the pit.
The mine, on average, moved 188 250 t/d of ore and waste, which allowed it to achieve guidance production levels, despite the timing of shipments having limited sales during the quarter.
Over the period, the mine shipped 35 900 wet metric tonnes (wmt) of concentrate containing about 17.5-million pounds of copper, 5 900 oz of gold and 87 650 oz of silver, generating about $62.7-million in gross revenue. The next ship was planned to start loading 10 000 wmt of concentrate on Thursday.
Investors were now looking forward to the mine completing installation of Western Canada’s largest cone crusher, which was scheduled for midsummer. Once installed, all of the mill feed would be sized to the two-inch range, which would allow the mill to operate consistently at or above its design capacity rate of 35 000 t/d.
Copper Mountain’s TSX-listed stock on Wednesday rallied to a high of C$3.15, before settling up 3.75% at C$3.04 apiece at the afternoon bell.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
