The future of Pumpkin Hollow mine in Lyon County is contingent of financing in order to proceed. This announcement came from Nevada Copper who decided to hold a public forum to squash rumors.
The Pumpkin Hollow mine is located in Mineral and Lyon Counties and currently the Bureau of Land Management is seeking comment on the 10,359 acre identified as “City of Yerington Sustainable Development Conveyance Lands.”
Tim Dyhr, vice president environmental and external relations, informed citizens that Nevada Copper is looking at a $1 billion capital investment. That money is needed to develop the mine before making any money from it.
Dyhr said that at full production, the mine would employ more than 850 people both in open and underground mining positions. Other positions at the sight would be needed such as milling and administrative.
Both Mineral and Lyon Counties have had high unemployment rates and Dyhr projects that it would take 970 jobs to get the counties to an average in rural Nevada mining counties.
Nevada Copper who estimates the Pumpkin Hollow mine life to be 23 years, projects 4.5 billion pounds of copper, 512,000 ounces of gold and 15.6 ounces of silver.
The plan for the “City of Yerington Sustainable Development Conveyance Lands” would have 9,130 acres re-conveyed to Nevada Copper for mine development along with commercial and industrial business opportunities. The City of Yerington would keep 920 acres to be used for recreation and a concert events center. Under the proposed plan, the city, county and districts would all receive funding on the property taxes and net proceeds of the 9,130 mine owned property.
The beginning of workforce hiring could begin in 2 to 3 years.
Public comment for the “City of Yerington Sustainable Development Conveyance Lands ends on Aug. 27.