KINGMAN, Ariz. (AP) - A company seeking to re-open the Chloride Copper Mine says it's still pursuing the project even though the firm has run into financial difficulties.

The Kingman Daily Miner reports that the Sierra Resource Group had anticipated hiring up to 40 employees and opening earlier this year, but production has been placed on hold because of financial problems with the company.

The company purchased the mine 15 miles northwest of Kingman and four miles south of Chloride in April 2010. The firm plans to use open-pit mining to produce up to 5.4 million pounds of copper cathode each year.

Last year, the federal Bureau of Land Management accepted the company's mine operation plan.