Capstone Mining buys Arizona copper operation, associated railway for US$650M

VANCOUVER – Capstone Mining Corp. (TSX:CS) is spending US$650 million to buy a copper mine and an associated railway in Arizona from a subsidiary of BHP Billiton. Capstone says the purchase of the Pinto Valley copper mining operation and the San Manuel Arizona Railroad Co. will immediately vault it into a position as an intermediate copper producer. The Pinto Valley mine in Arizona’s Globe-Miami mining district, about 125 kilometres east of Phoenix, is projected to produce 130 million to 150 million pounds of copper in concentrate and approximately 10 million pounds of copper cathode annually.