CuMo Project – Shaping Communities
by Eileen Capson – Idaho World
IDAHO CITY — Phil Bandy, Executive Vice President of Operations for Idaho CuMo Mining Corporation spoke regarding the ongoing project in Boise County and its potential effects on the region. “The Company is committed to exhaustive adherence to modern mining practices, stewardship of all natural resources, reclamation of the preexisting historic mining damage, and meaningful community engagement,” Bandy said. The Idaho City Chamber of Commerce arranged primarily for key groups, individuals and representatives from the Idaho City community to speak at this open meeting held on July 18th.
In his presentation, Bandy explained more about the hiring of “native Idahoans – like myself – or long term residents of the state.” There is some speculation that the mine could be ready to enter the production phase in five years; however, it is still considered an “exploration project”.
American CuMo, a Canadian based company, recently announced 100% ownership of the land, which increases the value of the project.
“Modern mining practices are critical to the responsible development of the CuMo Project. Strategic partnerships with public and private entities will produce positive community outcomes and ultimately result in a well-developed project plan,” Bandy said. “Should the CuMo Project advance to construction and production, it is projected that it could contribute millions of dollars in taxes, fees and other payments to the local, state and federal governments. It’s estimated that the CuMo Project could, “create as many as 5,000 jobs during the mine construction phases and 1,000 jobs for 100 years during production.” The average wage in Idaho would be $65,000, according to the Idaho Mining Association.
“The CuMo Project has the potential to produce 70 million pounds of molybdenum per year for decades,” along with substantial amounts of silver and copper. Molybdenum is used to strengthen and extend the longevity of steel used in infrastructure, such as buildings and bridges.
Phil Bandy addressed the question of how the CuMo Project could shape the future of Idaho City, “With the continued backing of Idaho City and Boise County residents, the CuMo Project has the potential to significantly benefit the local population through the creation of direct and indirect employment, skills transfer, enhancing the capacity of health and education services, improved infrastructure and business opportunities.”
“We will ensure that local people and local companies receive prior consideration for employment and business opportunities, based on qualifications and merit.”
The CuMo Project plans to continually work with local residents, communities and governments, in being “open, honest and forthright.” The company also plans to hold an upcoming community meeting, in Placerville, which is open to all Boise County residents.