Make Kitco Your Homepage

Excelsior sells first copper cathode from Gunnison to Trafigura

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Excelsior Mining (TSX: MIN) announced today the sale of first copper cathode from the Gunnison copper project in Cochise County, Arizona.

According to the company’s statement, a total of 90,000 pounds of copper cathode were sold under the off-take agreement with Trafigura. Assays confirm that the copper content achieved 99.998%; copper purity is projected to achieve 99.999% ("five-nines copper") as per the feasibility design, for all future copper harvests.

Excelsior anticipates achieving the nameplate production rate of 25 million pounds per annum later this year.

President and CEO Stephen Twyerould said, "Copper sales are expected to steadily increase as we advance the Gunnison ramp-up towards full production. Our SX-EW processing facility has been on care & maintenance for several years; therefore, the initial high quality of the Gunnison project cathode is remarkable and reflects our commitment to achieving technical excellence throughout all aspects of our business."

Excelsior is a mineral exploration and production company that owns the Gunnison copper project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production.

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.