NEW YORK Copper Mountain Mining Corp. will produce an estimated 80 million pounds of copper in 2013, according to the companys most recent production guidance.
The company will produce 35,000 tonnes of mill feed per day with a head grade of approximately 0.35 percent copper. The total cash cost of copper production is estimated at between $1.80 and $2 per pound, net of precious metal credits.
Copper Mountain started exploration drilling in 2012 and will continue doing so in 2013. The Vancouver-based company said plans for the 2013 drilling program will be finalized after it has evaluated its 2012 results.
The companys estimated production for 2013 is significantly lower than its 2012 projection of 85 million to 90 million pounds. Copper Mountain has not yet released its 2012 production results, but the company posted a $14.7-million loss in 2011 and a $1.5-million loss in the third quarter of this year.