Erdenet, which produces 530,000 tons of ore annually, is one of Asia’s biggest copper and molybdenum mines and a top tax contributor to the country’s $12 billion economy.
The remote town of Nueva Fuerabamba was built to house around 1,600 people who gave up their village and farmland to make room for a massive, open-pit copper mine.
CSR’s portfolio includes Castle Silver mine located 85km northwest of Town of Cobalt, which produced nearly 300m grams of silver and 376,000lbs of cobalt.
The Canadian precious metals producer announced a financing plan consisting of a $10-million bought deal private placement offering of four million flow-through common shares.