Copper Mountain Mine ships first load of concentrate to Japan
Sep 07, 2011, 09:37 ET
Web Site: www.CuMtn.com
VANCOUVER, Sept. 7, 2011 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") is pleased to announce that the Copper Mountain Mine has completed loading its first shipment of concentrate to Japan. The first shipment was made up of 11,200 wet metric tonnes of concentrate containing approximately 5.6 million pounds of payable copper, 40,600 payable ounces of silver, and 2,470 payable ounces of gold with a combined value of approximately US $29 million based on LME pricing. Loading of the concentrate took approximately 18 hrs with no problems encountered with the new loading facility that was built for Copper Mountain. The MV Polaris Melody is expected to arrive at the Onahama port in Japan on September 21, 2011 for unloading and transportation of the concentrate to Mitsubishi's Onahama smelter for processing.
CEO & President of Copper Mountain Mining Corporation, Jim O'Rourke
"In just 16 months since receiving our permits to build on April 1, 2010 we have reached our goal of our first shipment of copper concentrate headed to Japan for processing at our partners' smelter in Onahama. We are all very pleased with the team's accomplishment in such a short time."
About Copper Mountain Mining Corporation:
Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Mine. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain Mine has a current resource of approximately 5 billion pounds of copper and recently commenced production. Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Chief Financial Officer
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation
Image with caption: "MV Polaris Melody being loaded at the Port of Vancouver on Saturday, September 2, 2011. (CNW Group/Copper Mountain Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20110907_C8943_PHOTO_EN_2884.jpg
Image with caption: "Copper concentrate cargo being loaded onto the MV Polaris Melody. (CNW Group/Copper Mountain Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20110907_C8943_PHOTO_EN_2885.jpg
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