Augusta Resource Corp | Company Profile

Companay Profile

Augusta Resource Corportation (TSX/AMEX:AZC) is a base metals company focused on advancing the Rosemont Copper deposit near Tucson, Arizona. Rosemont currently hosts a 7.7 billion pound copper resource that will account for 10% of US copper output once in production in 2011. Augusta is comitted to becoming a solid mid-tier copper producer within the next three years.

The Rosemont Copper property is located in Pima County, approximately 50 kilometers southeast of Tucson, Arizona, and is situated near a number of large porphyry type producing copper mines operated by Freeport McMoRan and Asarco. The site is easily accessible via highway from east to west, with a network of unpaved roads leading into the property. It is also located less than 10 to 15 kilometers from a major transmission line as well as the main rail lines connecting to major ocean ports.

Rosemont Copper (100% ownership)

The Rosemont property is located in Pima County, Arizona approximately 50 kilometers southeast of Tucson, Arizona. Rosemont’s proven and probable mineral reserves contain 493 millions tons at 0.47% copper (Cu), 0.015% molybdenum (Mo) and 0.12 oz/t silver (Ag) in sulfide ore, and an additional 50 million tons at 0.18% Cu in oxide ore. Proven and probable reserves are derived from the measured and indicated resource defined below, which estimates a total (including inferred resources) of 11 billion pound (“Ibs”) of Cu equivalent – 7.7 billion Ibs Cu, 190 million Ibs Mo, and 80 million ounces (“ozs”) Ag .
                                                                                                               
The total captital cost estimate to commission the Rosemont facilities is estimated at $ 797 million (including oxide plant), with low operating costs estimated at between $0.38- $0.64/ Ib CU (net of by-product credits). After delivering a silver-backed financing arrangement with Silver Wheaton to fund up to $320 million towards development, the Company is now moving forward to advance permitting, secure long-lead time equipment orders, and finalize a project financing strategy.

Rosemont Measured and Indicated Resources

Contact:

...return to top of page | ...return to Mining Companies Overview