Nevada Copper suspends Pumpkin Hollow production
Copper production has been suspended at the Pumpkin Hollow mine, as a result of stringent travel and workplace restrictions that the US state of Nevada imposed to combat the spread of Covid-19.
The suspension of production is expected to last for at least six weeks, owner Nevada Copper, which trades on the TSX, reported on Monday.
During this period, essential mine services would continue on site, including reduced underground mine development and other activities necessary to maintain the operation in a ready condition for the ramp back up of activities.
“Our priority is to protect the health and wellbeing of our workforce,” CEO Matt Gili said in a statement, adding that the company would seek to protect its employees, business and facilities to allow for operations to resume once the Covid-19-related restrictions had been lifted.
Nevada Copper stated that it was reviewing various cost reduction initiatives to preserve liquidity and noted that it was consulting with its senior project lender, KfW IPEX-Bank.
The underground mine and process facility at Pumpkin Hollow entered into production in December 2019. The operation has capacity to produce 65-million pounds a year of copper-equivalent at an all-in sustaining cost of $1.86/lb, with possibilities for an expansion.
The company is also considering a large-scale openpit project at Pumpkin Hollow.
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