Web Site: www.CuMtn.com
VANCOUVER, Nov. 22, 2013 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM)
(the "Company" or "Copper Mountain") announces that one of the two ABB
transformers powering the motors on Ball Mill #2 at the Copper Mountain mine
has failed and has caused Ball Mill #2 to be out of service for a temporary
period while repairs are made. Mill throughput will be restricted by
approximately 25% while the concentrator operates with just one Ball Mill. It
is planned that the mill will be back to full production next week.
Spare coils are available and ABB have expedited crews to the mine to make the
necessary repairs. As part of the original design plan for the concentrator,
the two Ball mills and the SAG mill have identical motors and transformers
that are interchangeable in the event of a component failure. Because this
failure involves just one transformer on Ball Mill #2, the concentrator is
able to continue to operate with the SAG Mill and Ball Mill #1 at a reduced
mill throughput. It is anticipated that production will be limited to
approximately 1050 TPOH or about 25,000 TPD until repairs are completed.
Jim O'Rourke, President & CEO of Copper Mountain commented, "This transformer
failure is a disappointing event for the operation at this time as our team
has been making significant strides in improving tonnage through the SAG
mill. Production of copper for the month of October was on schedule at 6.5
million pounds and although this event will slightly impact metal production
all resources are being applied to minimize the impact. This outage is not
expected to affect our ability to achieve our guidance of 65 to 70 million
pounds of copper for 2013".
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located
in southern British Columbia near the town of Princeton. The Company has a
strategic alliance with Mitsubishi Materials Corporation who owns the
remaining 25%. The Copper Mountain mine commenced production in the summer of
2011, and has continued to improve its operations during the year; and
attained design capacity in the summer of 2012. The 18,000 acre site has a
resource of approximately 5 billion pounds of copper and remains open
laterally and at depth. The mine has significant exploration potential that
will need to be explored over the next few years to fully appreciate the
properties full development potential. Additional information is available
on the Company's new web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng.
Chief Executive Officer
Note: This release contains forward-looking statements that involve risks
and uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the documents, filed by the
Company on SEDAR at www.sedar.com, specifically the most recent reports which
identify important risk factors that could cause actual results to differ from
those contained in the forward-looking statements. The Company undertakes no
obligation to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation
Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email:Galina
@CuMtn.com or Rod Shier, Chief Financial Officer 604-682-2992 ext.222
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CO: Copper Mountain Mining Corporation
ST: British Columbia
-0- Nov/22/2013 13:30 GMT
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