SMM12, March 16: Nevada Copper Company Pumpkin Hollow underground mining project has begun production, is expected in the next few weeks will be the first delivery of concentrate and obtain the first operating income, by the first half of 2020, the mine will gradually achieve full commercial production.
The underground mine, which produces 5000 tons a day, will produce 60 million pounds of copper (about 27000 tons) a year in the first five years of operation, as well as 9000 ounces of gold and 173000 ounces of silver. The total reserves of the mine is about 24 million tons and the grade of copper equivalent is 1.74%. The life of the mine is expected to be 13.5 years.
Matt Gili, CEO of Nevada Copper, said: "I am pleased that Pumpkin Hollow has started concentrate production. It is also the first new copper project in the United States in more than a decade. This is a transformational moment for Nevada Copper, and I would like to thank our team, construction partners and financial partners for their dedication throughout the process. Given that the construction decision was made only 16 months ago, it is remarkable that we were able to do so. This is also inseparable from the support of our entire team, shareholders and other stakeholders for the company. "
"the start of production at Pumpkin Hollow is a milestone for Nevada copper, but this is only the first important milestone for the company," Gili added. "Pumpkin Hollow also has a lot of growth potential, including advanced large open-pit projects and our important regional exploration targets."
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