Capstone Mining Corp. today announced that it has received final approvals from the US Forest Service for a new mine plan of operations (the “Plan”) for the Pinto Valley Mine (“Pinto Valley”). The Plan, approved by the Tonto National Forest (“TNF”), extends Pinto Valley’s life of mine to the year 2039. The mine life extension is expected to produce 2.5 billion pounds of copper and will preserve approximately 700 jobs in Arizona’s Gila County, contributing to the area’s economic activities over the next two decades.
TNF’s approval process included a detailed evaluation of technical data provided by Pinto Valley Mining Corp. and a stakeholder consultation process. The plan allows for Pinto Valley’s continued operation and includes additional environmental controls, as well as monitoring and mitigation measures to address potential environmental impacts from the mine’s operations.
Darren Pylot, Capstone’s President & CEO commented, “I would like to congratulate our Pinto Valley team on this significant permitting achievement which will translate into continued benefits for the community of Globe-Miami for decades to come. We recently completed a $31 million optimization project which has increased productivity, decreased costs, and built a more resilient operation.”
“This is truly a historic day for Capstone Mining and our flagship Pinto Valley Mine”, said Brad Mercer, SVP & COO. Mr. Mercer added, “This approval took more than 5 years to obtain and we thank the US Forest Service employees who helped keep this project on track.”
Source: http://capstonemining.com/home/default.aspx