Copper Mountain Mining Starts Copper Price Protection Program

Copper Mountain Mining Corporation announces it has entered into a series of zero-cost collar option contracts.  The contracts cover 3.3 million pounds of copper per month through 2022, for a total of 39.6 million pounds of copper.

The floor price of the monthly copper options has been set at US$4.00  per pound with an average ceiling price of US$4.91  per pound.

Gil Clausen , Copper Mountain’s President and CEO, commented:

“We initiated a zero-cost collar copper price protection program this month as we believe it is prudent for us to protect our margins as we invest in our projects this year.  This is in line with our strategy to be environmentally and financially judicious, as we move forward with our growth plans. The detailed engineering is progressing well at the Eva Copper Project. We are also continuing to advance the installation of an additional concentrate cleaner flotation cell and another filter press, together with new rougher flotation cell capacity at the Copper Mountain Mine.”