Sunday, June 07, 2009

Augusta Resources seeking $900M to develop Rosemont copper mine

Todays Arizona Daily Star reports that Augusta Resources wrote to its stockholders to describe their plans to raise nearly $900 million to develop the big copper deposit in the Santa Rita Mountains south of Tucson. The newspaper provides some facts and figures about the size and economic impact of the proposed mine.

The amount follows closely a figure of $897M in presentations Augusta made to analysts and investors last month. Those slide sets are online at the Augusta website. [right, E-W cross section through the Rosemont ore deposit. Credit, Rosemont Copper]

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