VANCOUVER, Feb. 8 /PRNewswire-FirstCall/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces that construction work on the Company's Copper Mountain Project is proceeding on schedule and as planned. Work to date has focused on the pouring of concrete for the concentrator building foundations which is now approximately 92% completed. Work to date is on schedule and on budget with steel erection anticipated to start late in first quarter of 2010. To date the Company has incurred a total of $285 million in spent and committed expenditures out of a planned $438 million on the project. There are currently 175 construction people at site and this is expected to increase to 200 once steel erection begins. The Company has added some construction photo's to the Company's web page for interested investors.
The overall schedule of the project has remained unchanged with preproduction mining expected to start late in the second quarter of 2010 with the delivery of half the mining fleet, while construction is expected to be completed by April 2011 and full production expected to be achieved by June 2011 at the rate of 35,000 TPD.
Mr. Jim O'Rourke, President and CEO, stated, "All aspects of the project are advancing on plan for full production in June 2011. Construction of mill foundations are well advanced for steel erection to start in early March. The current slow economic climate is providing favourable deliverables and significant cost savings for construction materials.
In addition the Company would like to announce that the Company has completed its head office relocation to 700 West Pender Street, Suite 1700, Vancouver BC V6C 1G8. The main office number has remained the same, while the fax number has been changed to 604-682-2993.
