Senior leadership changes at Nevada Copper as Pumpkin Hollow progresses
Toronto-listed Nevada Copper has a new senior VP to oversee all construction and technical activities of its US-based Pumpkin Hollow underground copper project, which remains on track to produce its first copper before the end of the year.
Effective from Thursday, professional mining engineer David Swisher has been promoted to senior VP for operations. He has held multiple senior operating roles at mines in North America and has overseen the development of numerous mining projects globally.
At the same time, COO Philip Day is transitioning from his role to that of nonexecutive director. As director, he will be on Nevada Copper’s technical advisory committee and will continue to provide strategic support and direction in respect of the ongoing construction of the underground project.
Nevada Copper stated that Swisher was highly qualified and that he had led the underground project development at Pumpkin Hollow from study stage through construction.
“The planned management changes are well timed and represent a further stage in the growth of Nevada Copper,” commented CEO Matt Gili.
He also reported that the execution of the underground project was progressing at a strong and steady pace, with both underground development and surface works on track.
Nevada Copper would soon be releasing an updated prefeasibility study for the large-scale, openpit project at Pumpkin Hollow and was also preparing an exploration programme for the recently-staked ground, adjacent to the east of the property, Gili added.
In September last year, the company released the results of a preliminary economic assessment for a standalone openpit development option, which returned strong project economics, including a pretax net present value of $1.17-billion and an internal rate of return of 21%. According to the study, The Pumpkin Hollow opencut mine will produce 177-million pounds a year of payable copper over its 20-year mine life, at C1 cash costs of $1.67/lb net of byproduct credits.
The 5 000 t/d Pumpkin Hollow underground project currently under construction will produce 60-million pounds of copper in the first five years of operations, as well as 9 000 oz of gold and 173 000 oz of silver. Over the entire 13.5-year mine life, yearly output will average 50-million pounds of copper, as well as 8 000 oz of gold and 150 000 oz of silver.
Nevada Copper said last year that, although construction had started on the Pumpkin Hollow underground project, the openpit could still be developed and designed as an integrated operation for some years to come before the two development options became mutually exclusive to one another.
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