SEATTLE (Scrap Monster): Hudbay Minerals released technical report on the Copper Mountain Mine, located south of Princeton, British Columbia. The mine is expected to boost the company’s annual copper production by nearly 50% after 2025.
The report foresees average annual copper production of 46,500 tonnes with cash costs of $1.89 per pound over the first five years and 45,000 tonnes with cash costs of $1.72 per pound over the initial ten-year period. This represents approximately 90% surge over the 2022 production levels and 50% decline over the 2022 cash costs.
Hudbay Minerals plans to stabilize the mine operations by remobilizing idle haul trucks, opening additional mining faces and accelerating stripping over the next three years. It must be noted that the company has already commenced a fleet ramp-up plan. Furthermore, it plans to implement several initiatives aimed at delivering plant improvements and achieving optimization of ore feed to the plant.
As per report, the Copper Mountain mine is on track to deliver over $20 million in targeted annual operating efficiencies and nearly $10 million in corporate synergies over the period of next three years.
The mine plan contemplates average annual copper production of 37,000 tonnes over the 21-year mine life. The average cash costs over the mine life are projected at $1.84 per pound of copper.
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