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TORONTO, July 28 (Reuters) - Copper Mountain Mining Corp (CUM.V: Quote, Profile, Research, Stock Buzz) plans to spend C$402 million ($394 million) to revive a copper mine in British Columbia that it expects will produce nearly 100 million pounds of the metal per year, the company said on Monday.
The company said production at its Copper Mountain open pit mine should begin at the end of 2010 with a 35,000 tonne-per-day mill. The project would have an an initial mine life of 15 years, according to a feasibility study.
The news drove the junior miner's shares up by nearly 6 percent.
The construction decision has not formally been approved by the company's board of directors, but the company has already ordered equipment, said Don Graham, director of Copper Mountain's investor relations.
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