CPPMF - Proposed expansion likely to move Copper Mountain to $1B asset value

Copper Mountain Mining ([[CPPMF]] +2.4%) has announced a new life-of-mine plan, which includes a proposed mill expansion to 65,000 tonnes/day, for its 75%-owned namesake mine in British Columbia.The proposed expansion, which builds on the 45,000 tonnes/day expansion currently under way, moves Copper Mountain to about a $1B asset value, says CEO Gil Clausen.Initial capital cost required to increase throughput to 65,000 tonnes/day is currently estimated to be about $123M, plus $25M contingency.The current plan assumes completion of construction by the end of 2023 and commissioning at the beginning of 2024.On average, the expanded mine will produce 139M pounds a year of copper-equivalent.

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Proposed expansion likely to move Copper Mountain to $1B asset value