North American Growth in Copper
Augusta Resource Corporation is a base metals company focused on advancing its Rosemont Copper project near Tucson, Arizona. Rosemont hosts a large copper/molybdenum reserve of 5.9 billion pounds of copper and 194 million pounds of molybdenum. Over its 21+ year mine life, Rosemont’s 2012 feasibility study estimates the project’s average annual production is expected to be approximately 243 million pounds of copper and 5.4 million pounds of molybdenum at average by-product cash costs of $1.02 per pound of copper.
The project is nearing the last stages of permitting with the final Environmental Impact Statement issued in November 2013 and the draft Record of Decision issued in December 2013, the final Record of Decision along with the last remaining permit is expected to be issued in the third quarter of 2014. Once in production, which is planned to commence in the first quarter of 2017, Rosemont is expected to be the third largest copper mine in the United States.
The Company’s objective is to build and operate the world-class Rosemont mine and develop a robust portfolio of assets in North America with the focus on organic growth and early stage acquisitions. The exceptional experience and strength of Augusta’s management team, combined with the excellent infrastructure and robust economics of the Rosemont project, sets Augusta to become a leading copper development and mining company.
Augusta is traded on the Toronto Stock Exchange and the NYSE MKT under the symbol AZC.