Craigmont Mines Ltd

Description

Craigmont Mines Ltd. was a very successful copper producer in south central British Columbia (10 kilometers west of Merritt, BC) over the period 1962 - 1982. Copper production was ceased in 1982 as a result of low copper prices, and the shares of Craigmont Mines Ltd. were acquired by the Craigmont Mines Joint Ventures (Craigmont Mines) in 1985. During the period 1985 to 1992, Craigmont Mines supplied media grade magnetite to the western Canadian coal industry from stockpiles acquired when Craigmont Mines Ltd. was purchased. In 1993 Craigmont Mines commenced the recovery of magnetite from the mill tailings deposit created during the copper production operations of Craigmont Mines Ltd. Since the commencement of that operation, Craigmont Mines has produced in excess of 600,000 tonnes of media grade magnetite product. Approximately 450,000 tonnes of proven reserves are present in the remaining unmined tailings deposit. The current operation consists of mining tailings from the old tailings pile, extracting magnetite from those tailings by means of magnetic separators, grinding the extracted magnetite to meet customer sizing specifications, and re-depositing the material from which the magnetite has been extracted as new tailings. There are no chemical or other additives used in the process. Craigmont Mines magnetite recovery operations are planned to be carried out during non-freezing weather, to the maximum extent possible.

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