Copper Mountain Mining Corporation Announces Production Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Production Guidance for the Year 2017
For the year, the company reported total production of 103 million pounds of copper equivalent, including 83 million pounds of copper, 30,800 ounces of gold, and 291,900 ounces of silver. The mill averaged 92.1% operating time for the year at an average processing rate of 38,900 tpd for a total of 14.2 million tonnes of ore at an average grade of 0.324% copper.
The company provided production guidance for the year 2017. For the period, the company expects copper production to be in the range of 75 to 85 million pounds, based on a mill throughput rate of 38,000 tpd and a mill feed grade of 0.30% copper, in 2017. The planned mining rate is 180,000 tonnes per day for the year. The 2017 mine plan calls for a majority of ore to come from Pit 2 area, the saddle area and the Oriole deposit.