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Mining operations kick off at Arizona copper project

6th January 2020

By: Creamer Media Reporter

     

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TSX-listed Excelsior Mining has started operations at the Gunnison copper project, in southern Arizona, which is permitted to produce 125-million pounds a year.

The start of mining operations, announced on Friday, follows a commissioning programme that has been ongoing for several weeks.

The Environmental Protection Agency recently approved the start of mining operations through the injection of acid.

Excelsior has started delivering mining fluids to the copper orebody. The company explained that the fluids would circulate through a closed-loop system until the concentration of copper held in solution met sufficient grade to be treated through the Johnson Camp processing facilities to then extract copper and produce copper cathode sheets.

The first copper cathode sales were expected in the current quarter, the firm stated.

“We remain absolutely confident in our capacity to deliver low-cost copper production while maintaining our commitment to safety and the environment,” said Excelsior president and CEO Stephen Twyerould.

The Gunnison in-situ recovery copper extraction project permitted to produce 125-million pounds a year of copper cathode production. The feasibility study projected an after-tax net present value of $807-million and an internal rate of return of 40%, using a $2.75/lb copper price and a 7.5% discount rate.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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