COPPER MINE PROGRESSING FORWARD

Home / Copper / COPPER MINE PROGRESSING FORWARD

COPPER MINE PROGRESSING FORWARD

Augusta Resource Corp. is apparently moving in advance with its planned $900 million investment to mine the Rosemont copper-molybdenum deposit near Tucson, Ariz.

The location could become the third-largest copper mine in the United States, even though plans to mine the deposit have met with concerns from some local people and environmental groups.

According to Industrial Info Resources (IIR), Sugar Land, Texas, the Rosemont mine could be up to full construction in 2012. The open-pit Rosemont copper-molybdenum mine would then report for 10 percent of newly-mined copper output in the United States, making 200 million pounds per year, plus 4.7 million pounds per year of molybdenum and 2.4 million ounces per year of silver.

The deposit has a supply base of 7.7 billion pounds of copper, 190 million pounds of molybdenum, and 80 million ounces of silver, giving it a life span of say 20 years in production.