Make Kitco Your Homepage

Excelsior pours first cathode at Gunnison, becomes newest copper producer in the US

Kitco News

Kitco News has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won't come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.

(Kitco News) - Excelsior Mining (TSX: MIN) announced today that first copper cathode production has been achieved at the Gunnison copper project in Arizona.

According to Excelsior, copper cathode production has commenced, and first copper cathode sales are anticipated for January 2021.

The wellfield optimization program has expanded to include more production wells; additional time will be required to bring the entire wellfield into production.

President and CEO Stephen Twyerould said, "I am happy to confirm that Excelsior Mining is the newest copper producer in the United States. Our focus for the coming quarter will be on expanding wellfield operations with the goal of achieving full, nameplate, capacity of 25 million pounds per annum by late 2021. Finally, in consideration of the timing of this news, I want to wish all of our stakeholders a safe and happy Christmas season."

Excelsior is a mineral exploration and production company that owns the Gunnison copper project in Cochise County, Arizona. The project is a low cost in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.