Augusta’s Rosemont Copper project is located in Pima County, approximately 50 kilometres southeast of Tucson, Arizona.The project is expected to produce 243 million pounds of copper per year, according to its 2012 feasibility study, which could account for as much as 10% of US copper output, making Rosemont the third largest copper mine in the US.

In addition to copper, Rosemont is expected to produce significant amounts of silver and molybdenum over its 21+ year mine life. As of July 2012, Rosemont has proven and probable reserves of 5.9 billion lbs of copper and 194 million lbs of molybdenum and inferred sulfide mineral resources of 1.1 billion lbs of copper and 35 million lbs of molybdenum. Production is projected to commence in 2015.

A summary of the mineral reserve and mineral resource estimate is provided below.

Rosemont Proven and Probable Mineral Reserve Sulfides = 4.90 $/ton NSR cutoff
	Tons (Ms)	NSR $/ton	Copper (%)	Molybdenum (%)	Silver (opt)
Proven Mineral Reserves	308.1	20.29	0.46	0.015	0.12
Probable Mineral Reserves	359.1	18.67	0.42	0.014	0.12
Total Proven & Probable	667.2	19.42	0.44	0.015	0.12

The mineral reserve excludes potentially economic oxide material, therefore waste includes potentially economic material. 
Net Smelter Return (NSR) values are based on metal prices of $2.50/lb Cu, $15.00/lb Mo, and $20/oz Ag. 
The mineral reserve has been confined by a pit shell based on $1.88 per pound copper.
Copper equivalency for copper is based on $2.50/lb Cu and 86% recovery for sulfide, 40% recovery for mixed sulfide.
Copper equivalency for molybdenum is based on $15.00/lb Mo and 63% recovery for sulfide, 30% recovery for mixed sulfide. 
Copper equivalency for silver is based on $20/oz Ag and 80% recovery for sulfide, 38% recovery for mixed sulfide.

	Rosemont Measured and Indicated Mineral Resources
	Sulfide Mineral Resources (includes mixed sulfide)					Oxide Mineral Resources
	Tons (M)	Cu Eq  (%)	Copper (%)	Molybdenum (%)	Silver (opt)	Tons (M)	Copper (%)
Measured	347.7	0.56	0.45	0.015	0.12	30.3	0.17
Indicated	571.6	0.48	0.38	0.014	0.10	33.1	0.16
TOTAL M&I	919.3	0.51	0.41	0.014	0.11	63.4	0.17
	Inferred Mineral Resources
	Sulfide Mineral Resources (includes mixed sulfide)					Oxide Mineral Resources
	Tons (M)	Cu Eq (%)	Copper (%)	Molybdenum (%)	Silver (opt)	Tons (M)	Copper (%)
TOTAL Inf.	138.6	0.49	0.40	0.012	0.10	1.1	0.15

The mineral resource has been confined to a pit shell based on $3.50 per pound copper.
Cutoff grades are 0.15% CuEq for sulfide, 0.30% CuEq for mixed sulfide, and 0.10% Cu for oxide.
Copper equivalency for copper is based on $2.50/lb Cu and 86% recovery for sulfide, 40% recovery for mixed sulfide.
Copper equivalency for molybdenum is based on $15.00/lb Mo and 63% recovery for sulfide, 30% recovery for mixed sulfide.
Copper equivalency for silver is based on $20/oz Ag and 80% recovery for sulfide, 38% recovery for mixed sulfide.