Vancouver-based miner Quadra Mining (QUA-T) has sealed a deal to buy Cambior‘s (CBJ-T, CBJ-X) Carlota copper project in Arizona’s Globe/Miami camp for US$37.5 million in cash and eight staggered gold payments.
Carlota is described as a development-ready copper project that could be brought into production in 2007 using solvent-extraction electrowinning methods. Annual production rates could amount to 66 million lbs. cathode copper for 11 years.
Included in the acquisition are ten used 190-ton trucks, one used P&H 2800 shovel and a solvent-extraction plant.
For this deal, Orion Securities is advising Quadra while BMO Nesbitt Burns is advising Cambior.
Quadra is no stranger to open-pit mining, as it already operates the 38,000-tonne-per-day Robinson copper-gold mine in Nevada where it expects to produce 120-127 million lbs. copper in concentrate and 75,000 oz. gold this year.
From its base in Montreal, Cambior operates gold mines in northwestern Quebec and Suriname, plus a niobium mine in eastern Quebec.
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