It was noted during the ceremonies that Copper Mountain is the first base metal mine to commence operations in British Columbia since 1998 and that the mine will directly employ 270 people from the town of Princeton BC and surrounding areas and will have significant spinoff benefits for the entire province.

Notable excerpts from speeches during the official opening ceremony are presented below:

CEO & President of Copper Mountain Mining Corporation, Jim O’Rourke
“All of us at Copper Mountain are proud to be a part of this momentous occasion.  A new mine in BC has been long overdue, and with the help of Mitsubishi Materials Corporation and our employees, suppliers and contractors, we have brought this mine from concept to reality.  At full production we will be producing over 105 million pounds of copper, 27,000 ounces of gold, and 350,000 ounces of silver per year. We want to assure our stakeholders that we are off to a good start, but this is only the beginning for the company. We look forward to a prosperous future as the company grows on the momentum of this positive start”

Princeton Mayor, Randy McLean
“The official opening of Copper Mountain Mine marks a great day in the history of Princeton,” said McLean. “The economic effect of a project of this magnitude on a small community is remarkable; every facet of our way of life has undergone a boost in morale. We are eternally grateful to Copper Mountain Mining's Jim O'Rourke and the provincial ministers who worked so hard to bring this project into production.”

Minister of Energy and Mines, Honarable Rich Coleman
“Congratulations to everyone involved with Copper Mountain and to the community of Princeton. The provincial governmnet has worked hard to encourage investment and development in the mining sector. The Copper Mountain Mine will benefit both the regional economy and the entire province”.

Update on Operations:
Mining is proceeding well at rates in the 140,000 tonne per day range. Some teething delays have been experienced but programs are in progress to optimize the mining operation.

The concentrator is operating at  rates of about 90 percent of design capacity. Tonnage through the SAG mill has been the limiting factor. SAG mill perfomance has been disappointing and numerous changes have been necessary to approach design capacity. Additional improvements are scheduled at month end which are expected to allow the SAG mill  throughput to reach 100 percent of design. Capacity of the ball mill circuit, flotation and dewatering circuits meet or exceed expectations.

Concentrate trucks have been transporting concentrate to the storage dock daily, with the first cargo ship scheduled to arrive at the port before the end of the month of August. However due to port conjestion in Vancouver it may not be loaded until September 2 or 3rd. The first 12,000 tonne ocean shipment will be sent to Mitsubishi Materials Corporation’s Onahama smelter in Japan for treatment and refinement. The company will recognize revenue upon loading of the cargo in the month of September. 

A new road has been constructed to minimize distance and bypass travel through Princeton, connecting the mine with highway #3, saving a total of 40km in trip distance.  The Company is now working with government to get the transportation approval required to start utilizing this new road for concentrate hauling.

New video update:

Today the company issued a Media Release through Canada News Wire, which includes an updated video on the Copper Mountain Mine.

TO SEE VIDEO UPDATE ON THE COPPER MOUNTAIN MINE CLICK HERE

Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.