The company reported that the Copper Mountain mine produced 78.85 million pounds of copper for the full year of 2018, achieving production guidance of 76 to 84 million pounds of copper.
Copper Mountain Mining Corporation (TSX:CMMC,ASX:C6C) has announces Q4 and full year 2018 production results for its Copper Mountain mine, located in southern British Columbia, as well as its three-year production guidance for 2019 to 2021.
The company reported that the Copper Mountain mine produced 78.85 million pounds of copper for the full year of 2018, achieving production guidance of 76 to 84 million pounds of copper. Copper equivalent production for 2018 was 92.4 million pounds, which includes 28,250 ounces of gold and 273,910 of silver. Mill throughput averaged approximately 40 ktpd for the year with copper recovery of 80 percent and average feed grade of 0.31 percent copper. Open pit mining averaged 204 ktpd in 2018.
President and CEO of Copper Mountain, Gil Clausen said:
“We are pleased to finish 2018 strong, achieving guidance across all metrics. As we guided, the fourth quarter was our strongest production quarter. The Copper Mountain mine continues to operate predictably and reliably and in line with plan.”
We expect production in 2019 to be slightly lower than 2018, but as we move forward, production levels are expected to increase materially. We are also currently advancing our technical work to bring the New Ingerbelle mineral resources into mineral reserves and integrate those reserves into a new life of mine plan technical report for the Copper Mountain Mine. We are well advanced on this work and on track to deliver the results in the first quarter of 2019. The integrated life of mine plan results are not included in our current three-year guidance, and have the potential to add significant production value to Copper Mountain.”