VANCOUVER , Oct. 8, 2014 /CNW/ - Copper Mountain Mining Corporation (CUM.TO) (the "Company" or "Copper Mountain") announces production results for the third quarter of 2014 from the Copper Mountain mine located in southern British Columbia .

Copper production for the third quarter of 2014 totaled 21.7 million pounds of copper, a 9% increase as compared to the second quarter of 2014, setting another new production record for the mine.  The concentrate also included 6,100 ounces of gold and 124,100 ounces of silver.  During the quarter the mill processed a total of 2.8 million tonnes of ore at an average grade of 0.421 % Copper.   During the quarter the mill achieved 90.5% availability and averaged a total of 30,700 tpd throughput.  The Company continues to optimize the newly installed secondary crusher which averaged 35,900 tpd crushed during the last week of September, with a high day achievement of 43,500 tonnes of ore. 

Mr. O'Rourke, President and CEO commented:  "We are extremely pleased with our construction and operating team's efforts on bringing the new $40 million secondary crusher into production on schedule and on budget.  Minor modifications to the circuits are ongoing, but finer SAG mill feed has confirmed throughput forecasts.  Current production rates in the 35,000 tpd range are being achieved".

Mining activities continued to be split between Pit 3 and the southwest end of Pit 2.  During the quarter a total of 15.3 million tonnes of material was mined, including 4.5 million tonnes of ore and 10.8 million tonnes of waste. The projected life of mine strip ratio is 2 to 1 but higher in the early years.  The mine has moved an average of approximately 178,600 tonnes of material per day during the third quarter.  

Copper production during the quarter was in line with guidance; however a ship loading error reduced sales during the quarter as the port mistakenly loaded a portion of our concentrate while loading another company's concentrate onto the ship.  The port is conducting an investigation into this mistaken loading and the Company has made an insurance claim for the missing concentrate that has an estimated value of $3.6 million .  During the third quarter of 2014 the mine shipped 37,300 wmt of concentrate containing approximately 18.2 million pounds of copper, 5,900 ounces of gold, and 89,700 ounces of silver generating an estimated US $66.9 million in gross revenue. 

Conference Call Details:The Company will release its third quarter 2014 financial and operational results before market hours on Wednesday November 12 , 2014.  A conference call and audio webcast will follow that same morning at 7:30 am (Pacific Standard Time) for management to discuss the results.  This discussion will be followed by a question-and-answer period with investors.