Red Tiger Mining Inc. ceased mining operations at its Luz del Cobre copper mine in Mexico after completing an infill drilling program designed to better define the oxide-sulfide copper boundary in the North and South pits.
The company on Dec. 15 said it was already experiencing lower-than-expected copper recoveries and was nearing the end of its original mine plan.
The results of the program showed continued copper mineralization, but the portion of acid-soluble copper above cutoff remaining within the pit limits appears to be insufficient to continue mining. It is assessing the situation to determine what steps might be taken.
Red Tiger noted that it continues to operate the solvent extraction and electrowinning plant, and it is producing copper cathodes from existing copper inventory on the leach pad.
The Luz del Cobre mine began commercial production in July 2013, according to the statement.