Dual-listed Copper Mountain Mining has revised its mine plan and project schedule for its Copper Mountain mine, in British Columbia, deferring a $22-million capital spend in response to current market conditions and near-term copper uncertainty as a result of the Coronavirus.
ASX- and TSX-listed Copper Mountain on Tuesday said that it would defer the installation of the third ball mill at its namesake project, saving $22-million in capital expenditure in 2020.
The company would also look at reducing operating costs by resequencing short-term production to lower cost mine phases, while preserving high-grade ore in Pit 3, originally scheduled for mining in 2020, but now targeted for 2021, to benefit from higher metal prices in future and to match the deferral of the ball mill installation.