Augusta Resource Corporation (the Company) is base metals Company engaged in the acquisition, exploration and development of natural mineral resource properties. The Company’s goals is to build and operate a world-class Rosemont mine while developing a vigorous portfolio of assets in North America which focuses on organic growth in the earliest stage of acquisition. The Company’s experience and the strength of its management team, coupled with high class infrastructure project sets it to become one of the leading copper development and mining company.
At present, he Company’s only material property is the Rosemont copper property located in Pima County, Arizona which is primarily a copper mining project with appreciable amounts of molybdenum and silver by-products. It hosts a large copper/molybdenum reserve of 5.2 billion pounds of copper and 161 million pounds of molybdenum.
The property consists of:
- 132 patented lode claims consisting of about 797 hectares
- contiguous package of 949 unpatented lode mining claims consisting of (4,860 hectares which surround the core of patented claims.
- 10 blocks of fee land associated with the property, consisting of a number of individual parcels that enclose an additional 911 acres (369 hectares).
The project is almost at the last stages of acquiring permit and the record of decision is expected to be released on the 3rd quarter of 2012 while the construction is expected to begin in the 3rd or 4th quarter of the same year. Once Rosemont is in operation, produce 221 million pounds of copper per year, which could account for as much as 10% of US copper output thereby making it to be one of the largest copper mines in the United States.
Augusta Resource Corp. (USA) (NYSEAMEX: AZC) 52 week: 2.10 – 5.55 Mkt cap: 369.14M Shares: 144.20MTags: Augusta, Augusta Resource, Augusta Resource Corp., Augusta Resource Corporation, AZC, AZC quote, AZC stock, AZC stock quote, Stocks to watch