Company News: Cariboo Copper
Updated: 11 Jan 2012
Cariboo Copper Corp. is jointly owned by Sojitz Corporation (50%), Dowa Metals & Mining Co. Ltd. (25%) and Furukawa Co. Ltd. (25%).
Cariboo Copper Corporation has investment in Gibraltar copper molybdenum mine in Canada.
The Gibraltar copper mine is located in Williams Lake, British Columbia, about 600 km north of Vancouver. The Gibraltar copper mine is currently in operation and has minable reserves of 472 million tons. Production was approximately 115,000 tonnes of copper concentrate in 2009, and with the completion of the current expansion project in 2010, annual production will increase to about 180,000 tons. Operations can be sustained for 25 more years. The copper concentrate produced from the Gibraltar mine is clean with few impurities, and Japanese and Asian copper smelters have considerable experience processing the concentrate, producing material that is highly competitive for export to Japan in terms of quality, production costs, and transport.
The three Japanese companies acquired an interest in the Gibraltar mine through a new joint venture named Cariboo Copper Corp.
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