Nord Resources
Nord Resources primary asset is the Johnson Camp Mine located approximately 65 miles east of Tucson, Arizona. The reactivation of the Johnson Camp Mine commenced in June 2007. Residual leaching operations commenced in November 2007. Cathode production from residual leaching commenced in late January 2008 and production of copper from new ore mined at a rate of approximately 25 million pounds per annum is scheduled for spring 2009.
Nord Resources’ Johnson Camp mine production estimate raised in scoping study
Nord Resources Corp said a scoping study has found that the company can cost-effectively increase its production from the Johnson Camp copper mine in Arizona to an estimated rate of 40 million pounds of copper per year from the current plan of 25 million pounds.
The study by Bateman Litwin, an international firm of mining and processing consultants, estimates the 60 percent increase in the targeted annual production rate to 40 million pounds of can be achieved with an additional capital investment of less than US$20 million, Nord Resources said.
President and chief executive officer John Perry said: "We have been making excellent progress at the mine towards meeting our schedule to commence the production of new copper ore in the first quarter of 2009. We continue to expect to reach a rate of 25 million cathode pounds per year by next spring.
"We expect that our cash flow will increase with our planned reactivation of mine production in early 2009, at which time we intend to commission the feasibility study that will be required to increase our planned production rate to 40 million pounds of copper a year,” Perry added.
Completion of the feasibility study will take approximately six months from the date it begins.
Bateman Litwin estimates that, if the company decides to pursue the opportunity presented by the scoping study, the ramp-up to the increased production rate can take place within approximately 20 months from the start of the feasibility study.
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