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Be the first with the news that moves the market- Nevada Copper (TSX:NCU) is accelerating construction work on its Pumpkin Hollow underground mine, in an effort to restart the mine before schedule
- Work was recently halted at the site due to concerns surrounding the COVID-19 pandemic
- As part of the ramp up, the company has been expanding the site’s facilities, staked additional land and depended the mine’s main shaft
- Nevada has also entered into a long-term agreement Pumpkin Hollow with the site’s current mining contractor, and Redpath USA
- Nevada Copper (NCU) is trading in the grey and is trading at $0.19 per share
Nevada Copper (TSX:NCU) is accelerating construction work on its Pumpkin Hollow underground mine, in an effort to restart the mine before schedule.
Work was recently halted at the site due to concerns surrounding the COVID-19 pandemic.
As part of the ramp up, the company recently finished deepening the main shaft of the mine to 649.5 metres, changing up the shaft configuration ready for production.
The company is also installing a new ore processing system within the main shaft. To compliment this deepening work, the company has increased the mine’s lateral dimensions.
Furthermore, the company hopes to open a new inventory of stopes laterally across the mine and Nevada Copper has staked an additional 680 acres contiguous to the property.
At the processing plant, personnel have begun returning in preparation for a production ramp up.
In related news, the company has entered into a long term agreement with the site’s current mining contractor, Redpath USA.
Evan Spencer, CEO of Nevada Copper said the company has made significant progress in its bid to restart the mine and ramp up to full scale production. He went on to comment on the company’s agreement with Redpath.
“Signing the long-term contract with Redpath is another integral step. Having excellent partners and mobilising the workforce are key steps towards re-establishing normal operations and achieving full scale production following recent global shutdowns,” he said.
Nevada Copper (NCU) is in the grey and is trding at C$0.19 per share at 2:00 pm EDT.
