- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Project Update: VMS Ventures Starts Initial Production at Reed Copper Project
Copper junior VMS Ventures and Hudbay Minerals, its joint venture partner, are one step closer to full production at the Reed copper project.
Q4 is starting off well for Canadian copper junior VMS Ventures (TSXV:VMS), which today announced initial production at its Reed copper project, located near Flin Flon, Manitoba.
Reed Copper, which is owned 30 percent by VMS Ventures and 70 percent by Hudbay Minerals (TSX:HBM,NYSE:HBM), was shifted into initial production after Hudbay received the necessary Environmental Act Licence for the project from the government of Manitoba. Under the terms of the licence, the companies are permitted a 1,300-tonnes-per-day underground copper mine, including its supporting infrastructure.
According to VMS, Hudbay holds a bulk sample of roughly 7,000 tonnes of ore mined under the Advanced Exploration Project permit, and a metallurgical batch test of 4,500 tonnes that was milled towards the end of September.
“The receipt of the Environment Act Licence and the successful extraction of the bulk sample are both significant milestones for the project.” Neil Richardson, VMS Ventures’ COO, said in a statement. “The Licence confirms the care and diligence taken by our JV partner and operator Hudbay in moving the project forward within mandated environmental guidelines while the extraction of the bulk sample project is the first step towards full production at Reed.”
Full production is still scheduled and on track to remain within budget starting in the first half of 2014.
Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: VMS Ventures is a client of the Investing News Network. This article is not paid-for content.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.