Vancouver — By June,
The company began construction last fall and is well on its way toward developing a heap-leach copper mine. Solvent extraction-electrowinning will be used to recover cathode copper.
The primary crusher foundation has been excavated and poured, along with the foundations for structural columns and various other facilities.
Mining equipment is being assembled, and a new stacking system has been ordered from a local fabricator. Some equipment has been purchased from dormant mines, including a used overland conveyor system, which will be assembled on site.
Construction activities will continue in the coming months, along with excavation of the leach ponds. Loading of the leach pads is to begin in August. The first production of copper cathode is planned for October, and by year-end, the mine should be operating at full capacity.
Lisbon Valley is expected to produce 54 million lbs. cathode copper at a cash cost of US50 per lb. Total costs, including amortization, capital, reclamation and closure expenses, are pegged at US75 per lb.
Constellation Copper (formerly known as Summo Minerals) is also advancing its Terrazas copper-zinc oxide project in Mexico’s Chihuahua state. A full feasibility study is slated for completion later this year. Assuming positive results, mine construction would begin in mid-2006.
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