Nord Resources Corporation, which is reactivating copper mining at the Johnson Camp Mine in Arizona, today announced that a Scoping Study has found that the company can cost-effectively increase its production from the Johnson Camp to an estimated rate of 40 millions pounds of copper per year from the current plan of 25 million pounds annually. The Scoping Study is based on the existing estimated reserves contained in the company’s technical report, “Johnson Camp Mine Project Feasibility Study, Cochise County, Arizona, Technical Report”, dated September 28, 2007. The technical report was prepared in compliance with National Instrument 43-101 of the Canadian Securities Administrators, Standards of Disclosure for Mineral Projects (”NI 43-101″), and is available on the Internet at www.sedar.com.

The Scoping Study, completed 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 copper per year can be achieved with an additional capital investment of less than US$20 million.

“We are very pleased that the findings of this Scoping Study have confirmed our view of the near-term potential of our Johnson Camp Mine operations,” said John Perry, President and Chief Executive Officer. “Additionally, 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. While the feasibility study is underway, we plan to undertake certain other necessary steps, including the development of a new mine plan and the submission of permit modifications/applications, as may be required. We expect that completion of the feasibility study will take approximately six months from the date that it begins,” he said.

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.

The company also plans to begin a new program of exploratory drilling on the Johnson Camp property in 2009, as its cash flow and earnings improve, with the goal of increasing the current level of proven and probable reserves.

This entry was posted by Gold Mining on Tuesday, November 18th, 2008 at 9:26 pm and is filed under Copper. Tags: Arizona, Bateman Litwin, Bateman Litwin N.V., Cochise County, copper mining, John Perry, Johnson Camp, Johnson Camp Mine, mining, Nord Resources Corporation, permit modifications/applications, United States. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.