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Canadian miner to invest $350M in Australian copper project
Canada’s Copper Mountain Mining has un-veiled plans to invest some $350 million in the development of its Eva copper project in Queensland, Australia.
The company released the results of its feasibility study of the project.
"The mine plan includes production of 334 million tonnes of ore and waste from five deposits over a minimum mine life of 12 years," Cop-per Mountain Mining said in a statement. "The process plan calls for an average throughput of 28,000 tonnes per day (tpd) for the first five years and 25,500 tpd for the remaining life of mine based on the hard-ness variability incorporated into the geo-metallurgical model of the deposit."
The Canadian miner says Copper its flagship asset is the Copper Mountain mine located in southern British Columbia, in which the company holds a stake of 75%. The mine produces some 90 million pounds of copper equivalent per year.