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 commented.
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 lb 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.
