A feasibility study has determined that the Johnson Camp copper mine near Tucson, Ariz., can be reopened profitably now that prices for the red metal have improved.
With an investment of US$13.5 million, Nord says it can reopen the mine and produce 19.7 million lbs. annually over the next 11 years.
Nord issued 1.6 million shares to
Assuming a copper price of US85 per lb. for the first two years, climbing to US95 in the fourth year, Nord estimates gross revenue could top US$200 million over the life of the mine.
Operating costs are pegged at US63 per lb. over the life of the mine, including US21 per lb. for mining, US32 for processing and US10 for administration and other expenses.
Pretax cash flow from the operation is estimated at US$43 million over the mine life.
Nord’s 28.5%-owned affiliate,
Be the first to comment on "Nord gets green light for mine"