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Pumpkin Hollow nears completion; Nevada Copper expects Q4 first production

  • Author
  • Nick Lazzaro
  • Editor
  • Keiron Greenhalgh
  • Commodity
  • Metals

Pittsburgh — Nevada Copper expects copper production to begin in the fourth quarter of 2019 at its nearly completed Pumpkin Hollow underground mine in Nevada, the company said Friday.

The company has obtained and stockpiled 95,000 mt of development ore from the mine, it said in a statement. The ore will be converted at Nevada Copper's recently completed processing plant, which the company said is on schedule to begin operations in Q4. Pre-commissioning of the grinding circuit of the plant began in October, it added.

"We are now entering the final stages before the commencement of production at Pumpkin Hollow," CEO Matt Gili said in the statement. "Our team and contractors are continuing to deliver on schedule as we prepare for production this quarter."

Nevada Copper said the overall construction costs to complete the mine still remained in the range provided in the company's second-quarter financial report. In the Q2 report, the company said the expected cost had increased by about 6-8% from its initial construction capital projection of $197.3 million in August 2018.

The Pumpkin Hollow underground copper mine also contains gold and silver and has total proven and probable mineral reserves of 23.9 million mt.

Nevada Copper is also developing an open pit mine at the site that is potentially one of the least capital-intensive copper projects in the world, it said.

-- Nick Lazzaro, nick.lazzaro@spglobal.com

-- Edited by Keiron Greenhalgh, newsdesk@spglobal.com

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