Copper Mountain Mining Announces Record Mill Throughput For Q3

Copper Mountain Mining (TSX:CUM) has announced that the copper mountain mine produced 20.4 million pounds of copper for the third quarter of 2015. Overall, the company reported record throughput for the quarter.
As quoted in the press release:

Concentrate shipped during the quarter contained approximately 21.9 million pounds of copper, plus gold and silver, generating an estimated US$60 million in gross revenue. In the third quarter the mill achieved an average record throughput of 37,400 tpd, an increase of 22% over the comparative period of 2014. The ore grade averaged 0.35% copper for the quarter.
Mining activities continued to focus on the southwest end of Pit 2 and the northwest end of Pit 3. Approximately 85% of the ore mined during the quarter came from the Pit 2 area. During the quarter, the Company received approval for various permit amendments, including inclusion of the Virginia Pit in the mine plan, which has a higher than average head grade. Site personnel are advancing mining in the Virginia area for ore delivery in the fourth quarter, and are implementing other flexible mine plan initiatives to further reduce costs and maximize cash flow. During the quarter a total of 14.7 million tonnes of material was mined, including 5.4 million tonnes of ore and 9.3 million tonnes of waste, resulting in a strip ratio of 1.73:1. The mine moved an average of approximately 172,800 tonnes of material per day during the quarter.

Copper Mountain president and CEO, Jim O’Rourke, said:

We are very pleased with Copper Mountain Mine’s ability to continue to set production records. During the quarter, the mill averaged 37,400 tpd including an all-time high average throughput rate of 39,100 tpd for the month of July, as compared to 35,600 tpd achieved during the second quarter of 2015, which included. This record throughput has contributed to strong third quarter production of 20.4 million pounds of copper.
Management are fully focused on operational improvements and cost savings to ensure we are successful in addressing current global conditions. Adaptive mine plans for 2016 are being optimized to further strengthen our operating base and ensure our long-term success.

Click here for the full press release.