Sierra Miranda

Key Facts
  • Asset TypeMine
  • LocationChile

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Latest Information
  • Sierra Miranda Forsees to Duplicate Copper Cathode Production(S )
    Sierra Miranda Forsees to Duplicate Copper Cathode Production(S )
    On 2007-06-21
  • Dover Option Terminated
    Dover Option Terminated
    On 2004-07-13
  • Quitovac Drilling to Start
    Quitovac Drilling to Start
    On 2004-04-29
  • News Release-English
    Castlerock has Entered Into a Letter of Intent With Sierra Miranda S.C.M.,a Private Chilean Corporation,to Acquire the Sierra Miranda Copper Mine and Related Mining Assets in Northern Chile. the Purchase Price Includes a USD15 Million Payment DUE on Closing of the Transaction. a Second Payment of USD5Million is Payable on the First Anniversary Date. a Final Payment is to be Made one Year Later and is Based on the Average Price of Copper Over the Prior Twelve Months. This Payment Ranges From USD2Million if the Average Price of Copper Over the Prior Year was Less Than USD0. 90PER Pound and up to USD6Million Should the Average Price of Copper Exceed USD1. 30PER Pound. the Sierra Miranda Copper Mine is Located in Region II of Northern Chile,About 60KM Northeast of Antofagasta,Approximately23 KM Immediately North of Anglo American’S Mantos Blancos Copper Mine. the Sierra Miranda Mine Produces About 10,000Tonnes of Copper PER Year. an in-Company Ore Reserve(not Compliant With National Instrument 43- 101), Includes6, 608 ,000Tonnes at an Average Grade of0.9% Copper(Using a0.6% Copper Cutoff Grade), Within a Larger Resource of About25 Million Tonnes at an Average Grade of0.7% Copper. the Mine has Been in Production Since19 98and Currently Operates at a Mining Rate of3,000Tonnes PER DAY From an Underground Operation.
    On 2004-04-07