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Copper Mountain Mining (TSX: CMMC) (the “Company” or “Copper Mountain”) announces 2016 year end revenues of $278 million, after pricing adjustments and treatment charges, from the sale of 82.7 million pounds of copper, 29,900 ounces of gold, and 283,900 ounces of silver. Total cash cost for the year was US$1.54 per pound of copper sold, net …
Copper Mountain Mining (TSX: CMMC) (the “Company” or “Copper Mountain”) announces 2016 year end revenues of $278 million, after pricing adjustments and treatment charges, from the sale of 82.7 million pounds of copper, 29,900 ounces of gold, and 283,900 ounces of silver. Total cash cost for the year was US$1.54 per pound of copper sold, net of precious metals credits.
As quoted in the press release:
Jim O’Rourke, President and CEO of Copper Mountain, remarked “During 2016, Copper Mountain continued to demonstrate improvement in production. Despite the challenging commodities price environment for most of the year, the mine has been cash flow positive from operations and has continued to focus on cost controls and production efficiencies. Total cash costs for the quarter decreased by 11.5% to US$1.54 per pound of copper sold net of precious metal credits and after all off-site charges, over 2015 total cash costs of US$1.74. Mine production was ahead of budget during the year with approximately 188,000 tonnes mined per day, well above our 2016 guidance of 174,000 tpd.”
