Excelsior Mining (TSX: MIN; OTCQB: EXMGF) has received all permits to commence operations at the Johnson Camp copper mine in southeast Arizona.

According to the company, the first copper production is anticipated in H1 of 2025.

The Mined Land Reclamation Plan (MLRP), along with the recently approved Air Quality Permit (AQP) and the Aquifer Protection Permit (APP), means that all approvals needed to start copper production at Johnson Camp have been received.

Excelsior is looking to revive the historic open-pit copper operation with the support of Nuton, a Rio Tinto technology venture.

The construction of the mine follows Nuton’s decision earlier this year to proceed with Stage 2 of the companies’ existing option agreement. Under this agreement, the Rio venture plans to fully deploy its proprietary heap leach technology at Johnson Camp. In return, Nuton will pay Excelsior $5 million for the use of mine infrastructure and fund all of Excelsior’s costs associated with this stage.

Since the 1970s, the Johnson Camp mine has been a heap leach operation. It comprises two open pits, a two-stage crushing-agglomerating circuit, and a fully functioning solvent extraction-electrowinning (SX-EW) plant capable of producing 25 million lb. of copper cathode annually.

Earlier this year, Nuton completed Stage 1 of the work program, which consisted of mineralogy, predictive modelling, engineering, and other test work. Meanwhile, Excelsior, as project operator, completed diamond drilling, permitting activities, detailed engineering, and project execution planning.

The Stage 2 work is anticipated to take five years to complete. If successful, it would demonstrate key elements of Nuton’s technology at an industrial scale. It will proceed based on milestones related to engineering and mobilization, infrastructure and construction, mining, leaching, copper production, and post-leach rinsing.

Upon completion of Stage 2, Nuton will have the right to form a joint venture on the Johnson Camp mine, in which Nuton and Excelsior will initially hold 49% and 51% respective interests.

Shares of Excelsior Mining were down 6.6% at C$0.17 apiece by noon ET in Toronto, for a market capitalization of C$53.6 million ($38.7 million).

Source: MINING.COM – Read More