Copper Mountain’s mine up and running again ahead of schedule
Canadian Copper Mountain Mining (TSX:CUM) said Monday its damaged SAG Mill transformer has been fully repaired and re-installed, allowing the concentrator to be back at full operation one week earlier than expected.
The Vancouver-based miner added in a press release it hasn't yet determined the exact cause of the mid-May failure of the transformer. It also said the three coils that needed to be replaced have been sent to the manufacturer's repair shop in Italy for further testing and evaluation.
The firm’s shares rose 0.58% Monday to $1.70, leaving the company with a market cap of $167.6 million, based on 98.6 million shares outstanding. The 52-week range is $4.53 and $1.43.