Spokane Journal of Business

Russell Mining moves into Chase Financial Center

Russell Mining enters lease of larger downtown space; is involved in two projects

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Russell Mining & Minerals Inc., a Spokane-based mine development company, has moved to the Chase Financial Center downtown.

The company, which employs about 20 people, relocated to 11,500 square feet on the sixth floor of the building, at 601 W. Main, from smaller quarters at 400 S. Jefferson.

Kristi Harvie, manager of investor and corporate affairs, says the company desired a larger space and to be more centrally located.

Andrew Russell and his father, Bob Russell, are among the private company's principal owners. Russell Mining & Minerals manages the development of mine properties in the U.S. and globally, Harvie says.

Specifically, the company is involved in mine development for St. Augustine Gold & Copper Ltd. and its King-king copper-gold project in the Philippines, and for Josephine Mining Corp.'s copper, gold, silver, and zinc project in southwestern Oregon, she says.. St. Augustine and Josephine Mining are Spokane-based companies that have operations in the same Chase building space, she adds.

Both companies are listed on the Toronto Stock Exchange, and Bob and Andrew Russell both hold positions on their boards of directors.

Harvie says Russell Mining & Minerals doesn't plan to expand in the near future, but the newly leased space provides room for growth.

St. Augustine Gold & Copper is actively developing the King-king project, located in the southeast area of the Philippine island of Mindanao. The project is touted in a press release as one of the largest undeveloped copper-gold deposits in the world.

In June, Josephine Mining announced it was raising funds for the continued permitting of the Turner Gold project in Oregon.

The company also entered into a confidential letter of intent to acquire additional assets, a press release said. As a result, the company said it planned to raise up to $20 million in a private placement.

Matthew Byrd, of Cornerstone Property Advisors LLC, negotiated the lease for Russell Mining & Minerals. Mark Mowrer and Gordon Hester, of Kiemle & Hagood Co., represented the lessor, Joshua Green Corp., of Seattle.

Treva Lind
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