In the midst of the doom and gloom in the metal markets, Augusta Resources announced the other day that their proven and probable reserves (Cu, Mo, Ag) at the Rosemont mine have increased 14% to just over 616 million tons of ore. In addition, they calculate that the amount of waste rock that has to be removed for each ton of ore has dropped by 16%, which will translate into lower costs.
[right, model of proposed Rosemont mine development in the Santa Rita mountains. Credit, Augusta Resources]