Augusta Resource Corp. (AZC) Announces Precious Metals Agreement Signed with Silver Wheaton
Augusta Resource Corp., the base metals company developing the Rosemont deposit near Tucson, Arizona which has an estimated 2012 capacity of 10% of US copper output, announced yesterday the signing of a definitive agreement with Silver Wheaton Corporation for 100% of the payable silver and gold produced at Rosemont. With final permits slated for 4Q 2010, and an estimated production capacity of 2.4M ounces of silver and 15,000 ounces of gold per year, and with a lifespan of 20 years according to the 2009 Rosemont Updated Feasibility Study, Rosemont’s rich copper/molybdenum reserves offer a sustainable profit margin for the foreseeable…