By John Hernandez
San Manuel Miner
The previously announced purchase of the Pinto Valley mine and the San Manuel Arizona Rail Road Company (SMARRCO) by Capstone Mining Corporation has been completed.
The Canadian company based in Vancouver purchased the mine and railroad from BHP Billiton for $650 million. Capstone Mining Corp. now has three producing copper mines: Pinto Valley in the United States, Cozumin, a copper-silver-zinc-lead mine in Zacatecas State, Mexico, and Minto (copper-gold-silver) in Yukon, Canada. The company also has two properties under development: Santo Domingo in Chile and Kutcho in Canada.
Former Vice President of North American Operations, Steve Winkelmann, has been appointed General Manager of Pinto Valley. Capstone reports that 98 percent of Pinto Valley’s employees including key personnel have accepted employment by Capstone. The Capstone Pinto Valley team will focus on ramping up production.
Pinto Valley currently ships concentrate by truck to SMARRCO where it is loaded on trains and transported to Guaymas, Mexico.