🕐06.05.10 - 21:03 Uhr
Copper Mountain On Track
Vancouver, British Columbia – May 6, 2010 – Copper Mountain Mining
Corporation (TSX: CUM) (the “Company” or “Copper Mountain”)
announces that construction work on the Company’s Copper Mountain Project
is proceeding on schedule and as planned.
Erection of steel for the
concentrator building is underway with the newly purchased 275 ton crane
that will also be utilized during operations for maintenance on the primary
crusher.
Concrete foundations have been completed for the new 5 bay truck
shop to accommodate the new 240 ton capacity haul trucks.
The contract to
supply and erect the truck shop building steel has been let and steel
erection is scheduled to start later next month.
To date a total of 16,500
m3 of concrete has been poured, with a majority of the concrete coming from
the Company’s batch plant located at the mine site.
The mobile mining fleet is being delivered to site in preparation for
preproduction mining activities that are to commence this summer.
To date
two large Komatsu 375 Dozers are in operation and the process of assembling
three 240 ton haul trucks and one WA1200 loader is proceeding.
The trucks
and the loader are expected to be work ready by the end of May.
Copper Mountain’s partner, Mitsubishi Materials Corporation, has been
progressing well on the debt financing for the Copper Mountain Project,
which is anticipated to close towards the end of the month, with initial
draw-down of funds planned for June.
The lenders of the project debt
include some large Japanese commercial banks and the Export Credit Agency.
There are a total of 150 construction personnel on site, and the Company is
now staring to crew up its operating team.
Mr.
Bill Dodds has been
appointed Mine General Manager and has joined the Company effective May 1,
2010.
Bill brings with him over 25 years of mine operational experience
which is an excellent compliment to the very seasoned team already in place.
The overall schedule for the project remains unchanged with preproduction
mining expected to start late in the second quarter of 2010, while
construction of the processing facilities is on schedule for full production
by June 2011 at the rate of 35,000 TPD.
(Photos Available on web site @
www.cumtn.com)
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 Project.
The 18,000 acre mine site is located 15 km south of the town of Princeton in
southern British Columbia.
The Copper Mountain Project has a current
resource of approximately 5 billion pounds of copper and it is Copper
Mountain’s goal to develop the Copper Mountain Project as a mid tier
copper and precious metal mine to produce approximately 100 million pounds
of copper per year by mid 2011.
Additional information is available on the
Company’s web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
“Rod Shier”
Rodney A Shier, CA
Chief Financial Officer
For further information, please contact:
Don Graham: Director, Investor Relations 604 682 2992 ext.
224 Email:
or B&D Capital 604-685-6465 Website: www.CuMtn.com
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.http://www.cumtn.com/listmanager/box.php?nl=1&c=95&m=89&s=5ec67c343500e10b6126e4da5fdc61e9&funcml=unsub2
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