- Write by:
-
Wednesday, December 30, 2020 - 12:16:56 PM
-
601 Visit
-
Print
Mining News Pro - Nevada Copper announced on Tuesday it has completed the underground materials handling system of the main shaft at its Pumpkin Hollow underground mine in Yerington, Nevada.
Completion of the materials handling system represents a “significant milestone” in the construction of the underground project, the company said. The entire project included sinking the vent shaft, sinking the main shaft and construction of the processing plant.
The materials handling system would result in a significant increase in hoisting rates, from currently 1,000 tpd to ultimately 5,000 tpd once commissioning and ramp-up are completed. This is expected to enable the underground mine to deliver substantially higher volumes of ore directly from the mine to the processing plant.
“With the completion of the materials handling system, we can now utilize the full hoisting capacity of the main shaft as we ramp up the mine towards full production,” CEO Mike Ciricillo said in a press release.
Earlier this month, Nevada Copper received a financing package including $31 million in cash for completing the ramp-up of the underground project.
Pumpkin Hollow was the first US copper mine to come on line over the past decade. The underground mine is capable of producing 50 million pounds of copper during a 13.5-year mine life.
Shares of Nevada Copper gained 6.2% by 12:10 p.m. in Toronto. The copper miner has a C$189.7 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/609879
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los ...
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
No comments have been posted yet ...