Included in the resources were proven and probable reserves of 702 million tonnes averaging 0.24% copper, 0.10 g/t gold and 0.71 g/t silver, for 3.7 billion lb. of copper, 2.3 million oz. of gold and 16 million oz. of silver.
Incorporating the updated reserve base, the Copper Mountain mine plan has been extended to 32 years with the 65,000 t/d expansion commencing in 2028. Annual production is projected at 114 million lb. of copper, 54,000 oz. of gold and 367,000 oz. of silver.
The revised life of mine plan also results in robust economics of $1.24 billion in after-tax net present value (at 8% discount), up from its previous estimate of $1.0 billion. The initial capital cost required to increase throughput to 65,000 t/d is estimated to be $237 million.
“These results illustrate the size and scale of the Copper Mountain mine,” says Gil Clausen, Copper Mountain’s president and CEO. “Our large mineral reserves base…
