Chloride Copper Mine clears regulatory hurdles

KINGMAN, Ariz. -- A company seeking to re-establish the Chloride Copper Mine said the U.S. Bureau of Land Management has accepted its "mine plan of operation."

The Kingman Daily Miner reported that the recent formal acceptance allows the Sierra Resource Group to submit its draft environmental assessment and the company anticipates producing its first copper in early 2013.

Sierra CEO Rod Martin said when all permits are approved, Sierra will be free to complete construction and start production.

He said copper is trading at about $3.40 a pound, and its future curve should either stay flat or increase slightly due to the increased demand in developing nations.

Martin said the company expects to hire up to 40 people to operate the mine site.

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Information from: Kingman Daily Miner, http://www.kingmandailyminer.com

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