In a recent trip to Southern British Columbia, Frank Holmes traveled with a group of CEOs, hedge fund managers, newsletter writers and curious investors to visit the open pit mining operations of Copper Mountain Mining Corp. Take a virtual trip to the mine site by exploring our slideshow.
In 2011 Copper Mountain Mining officially opened in the community of Princeton in the Province of British Columbia. The company acquired the mine site in 2007, and it now operates as the first new major open-pit copper mine in B.C. in over a decade.
Mitsubishi Materials Corp. is a 25-percent partner in operation with Copper Mountain – both names successfully pushing to get this 18,000-acre mine site into production. In 2014 the mine is expected to produce 80-90 million pounds of copper.
Copper Mountain processes around 35,000 tonnes a day, requiring haul trucks with high-efficiency diesel engines as shown here, as well as hydraulic front-loading shovels with 42-cubic-meter buckets.
The tires alone have a price tag of $40,000, and are equipped with microchips to measure temperature and pressure data remotely.
Frank Holmes stands atop one of the three existing pits at Copper Mountain. This one is around 200 meters deep. Eventually all three pits will combine with the others to form one super pit.
Jim O’Rourke, Chairman and CEO of Copper Mountain, examines the site’s computerized control system. This system tracks everything from the crusher to the water system and even the truck traffic on the mining site.
Copper Mountain uses some of the newest, high-efficiency technology throughout its operations, spending more than $85 million on equipment that was delivered to the site in various stages during its startup.
Frank is pictured here with Marin Katusa of Casey Research (left) and Matt Smith of Stansberry Research (right) in front of one of two 40-foot-long ball mills that operates with 17,000 horsepower drive.
Companies like Copper Mountain are moving fast, making things happen and using new technology to regenerate life into one of the oldest mines in BC. Investors should pay attention to companies such as this, which is making enormous strides and adding credibility to its name.
Copper is a commodity with many uses. This includes its presence in cell phones, conventional and high-speed trains, hospital and medical equipment, and the list goes on. There are 5 billion pounds of copper resource at Copper Mountain Mine.
Sources: Copper Mountain Commemorative Book, www.cumtn.com