The Vancouver-based company that was established to revive the Similco copper mine in southern British Columbia is making significant progress.
Natural resource extraction
The Vancouver-based company that was established to revive the Similco copper mine in southern British Columbia is making significant progress. Copper Mountain Mining Corporation (CMMC) has received its provincial permit for the $438 million project to get underway.
“We have been laying the foundation for the reseating of the SAG Mills and ball mills and will be receiving these in August,” said Don Graham, director of investor relations with CMMC.
“We will be commencing construction this summer on the concentrator that will produce the copper concentrator.”
To date, construction on the open-pit mine located 15 kilometres south of Princeton, has focused on the pouring of concrete foundations for the concentrator building.
The foundation work was awarded to Gisborne Industrial Construction Ltd.
Graham said there are currently about 150 construction workers on the site and this is expected to increase once steel erection begins later this summer.
Copper Mountain is taking delivery of two Komatsu D375 dozers in preparation for preproduction mining activities later this summer.
The company will have half of the mobile mining fleet assembled and ready for preproduction mining by the end of August.
Construction is expected to be completed by April 2011 and full production planned by June 2011.
The 18,000 acre property is expected to produce about 45 million kilograms of copper per year by mid 2011, which would make it the third-largest copper mine in Canada.
The facility will employ 258 workers and has a projected lifespan of 17 years.
The Similco Mines closed down in November 1996, due to low reserves, falling copper prices, rising production costs and need for substantial capital expenditures.
Cassiar Mining Corporation bought the deposit in 1988 and operated under the name Similco Mines Ltd.
The previous owner, Newmont Mining Corporation of Canada began exploration in 1966 and restarted production in 1972.
Granby Consolidated Mining, Smelting and Power Company began production at Copper Mountain began in 1923.
Copper was extracted from underground excavations from 1925 to 1930, and from 1937 to 1957.
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