VANCOUVER, BC, July 8, 2020 /PRNewswire/ - Copper Mountain Mining Corporation (TSX:CMMC) (ASX:C6C) ("Copper Mountain" or the "Company") is pleased to announce that it has successfully installed and commissioned the Direct Flotation Reactors (DFRs) at its Copper Mountain Mine on schedule and on budget. This represents the first stage of its mill expansion project which will bring plant capacity to 45,000 tonnes per day from 40,000 tonnes per day. The installation of the DFRs increases the efficiency and the capacity of the current cleaner circuit, which is expected to increase copper concentrate grade from about 25% to 28%, resulting in lower concentrate transportation, smelting and refining costs. See appendix A for photos of the installed DFRs.
"We are pleased that the installation of the DFRs was completed on schedule and on budget," commented Gil Clausen, Copper Mountain's President and CEO. "The DFRs have been commissioned and turned over to operations. This is a testament to the great work of our operating and projects team. The DFRs are a low capital, high return project and we are already seeing improved concentrate grades. The next stage for the mill expansion project is the installation of the third ball mill. We have the ability to rapidly restart this stage as we have maintained long lead time expenditures and we also have the flexibility to accelerate the project as necessary. With the installation of the third ball mill, we expect production to increase by 15 to 18% as a result of higher throughput and improved recoveries."
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine currently produces on average approximately 90 million pounds of copper equivalent annually. Copper Mountain also has the permitted, development-stage Eva Copper Project in Queensland, Australia and an extensive 4,000 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol "CMMC" and Australian Stock Exchange under the symbol "C6C".
Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Gil Clausen, P.Eng.
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company's properties in Canada and Australia, the reliability of the historical data referenced in this press release and risks set out in Copper Mountain's public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE Copper Mountain Mining Corporation