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Altona Mining

Corporate Overview

Altona Mining Limited (Altona) is the result of a merger of ASX listed base metal companies; Vulcan Resources Limited and Universal Resources Limited.  The company has two major copper assets.

Altona has a clear strategy to build a profitable copper business producing from multiple mines in historic major copper mining camps.

The Company expects to commence production in 2011 and is targeting production of in excess of  40,000t of copper annually by 2014 with significant additional gold, zinc, nickel and cobalt credits.

Outokumpu Copper Project

The Outokumpu Copper Project is located in Eastern Finland and comprises the Luikonlahti Processing Plant and some 15.6Mt of copper Resources in seven deposits within 45km of the plant with significant cobalt, gold, nickel and zinc credits. 
The Kylylahti copper deposit is the largest deposit in the area.  The company is finalising engineering studies and intends to make a decision on commencement of operations in the June quarter of 2010.  Both Luikonlahti and Kylylahti are permitted and have completed feasibility studies.

Roseby Copper Project

The Roseby Copper Project is located near Mt Isa in Queensland in northeast Australia.  Resources at Roseby contain some 877,000t of copper and 239,000oz of gold in nine shallow deposits.  A detailed feasibility study for a 5Mtpa open pit mining operation on three deposits has been completed and the project is currently proceeding through permitting.
The company also holds extensive nickel sulphide resources and nickel exploration tenements in Finland.