Annual production of 125 million pounds cathode copper Gunnison copper project launched

SMM1, March 3,: Excelsior Mining Corp. On Thursday, it said it had begun mining operations at its wholly owned Gunnison copper project in southeastern Arizona. The first batch of cathode copper is expected to be sold in the first quarter of 2020.

The feasibility study released in 2016 shows that the mine has a service life of 24 years, an operating cost of $0.65 per pound and an initial capital cost of $46.9 million.

According to the feasibility study, Excelsior expects to use the existing Johnson Camp mine facilities to achieve an initial production rate of 25 million pounds of cathode copper per year. In the middle of the project, it expanded to 75 million pounds a year until the seventh year of operation, reaching a full output of 125 million pounds a year.

Excelsior has previously said the Gunnison copper project is likely to be one of the cheapest copper producers in North America. The company expects to expand its existing business by 2020 and lay the foundation for a future expansion of the Gunnison copper project to 125 million pounds a year.

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