SMM5 March 19: it is reported that once copper prices recover and restrictions imposed by the new crown virus are relaxed, Nevada Copper (Nevada Copper) 's pumpkin hollow underground copper mine (Pumpkin Hollow Copper mine) expansion project will resume.
Before restarting, however, the project will focus on developing infrastructure rather than strengthening production.
Copper was trading at $2.33 a pound as of May 15, down from $2.86 in January, according to Nasdaq data. In April, the price continued to fall, falling to a low of $2.10 a pound.
Tim Dhyr, the company's vice president of external and government relations, said it was bad for the company to produce at a price of $2.20.
Prior to this, affected by the epidemic, Nevada Copper temporarily suspended the production activities of the Pumpkin Hollow project for at least six weeks, which will be adjusted in accordance with government measures.
The Pumpkin Hollow underground mine, which starts production in December 2019, is expected to produce 6.5 million pounds of copper equivalent per year, at a total maintenance cost of $1.86 per pound.
"production of Pumpkin Hollow Underground Mine of Nevada Copper in the United States has been suspended.
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