New Century on Track for August Production

New Century on Track for August Production

New Century Resources has announced its Century zinc mine is almost ready for first production, with significant progress made on restart operations in July.

The restart of the Century zinc mine in Queensland is nearing completion, with owner New Century (ASX:NCZ) announcing on Wednesday (August 1) that significant progress was made over July.

“Restarting of operations at the Century zinc mine [is] now imminent” and on track for first production this month, said the company in the release.

Key developments last month included the completion of mechanical components for mining as well as the associated pipeline to the port facility.

Testing at the on-site processing plant is also continuing and dredging at the nearby port of Karumba has been completed.

Karumba, on the Gulf of Carpentaria, is where the zinc produced by the mine will be shipped from to smelting facilities elsewhere in Australia as well as Asia and Europe.

In a sign first production is truly just around the corner, New Century said that mining, processing and port operations teams were now in place, “with site activities now moved from day shift only to a 24/7 schedule.”

The Century mine was sold by MMG (HKEX:1208) in 2016 after the company ceased operations in November 2015. The mine had been Australia’s largest open-cut zinc mine, producing an average of 475,000 tonnes of zinc concentrate and 50,000 tonnes of lead concentrate a year.

New Century Resources describes the closure of the mine as “an opportunity for a focused junior to monetize valuable remaining mineral assets,” which according to them included 2.2 million tonnes of zinc equivalent in tailings left over from previous operations and a million tonnes of zinc-lead resources in a number of deposits around the site.

The company aims to become one of the world’s top 10 zinc producers, and according to its restart feasibility study, the mine is projected to produce 507,000 tonnes of zinc concentrate per year at 52 percent zinc over an initial 6.3 year mine life from the tailings deposit only.

The company has been posting regular updates on progress at the mine, including offtake deals that secured its future early on.

On the Australian Securities Exchange, New Century Resources was trading at AU$1.24 at close on Wednesday, down 2.36 percent.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

Hastings Technology Metals Ltd Measured and Indicated Mineral Resource Tonnes Up by 54%

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM), is pleased to announce a material increase in Mineral Resource Estimate at its Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

Highlights

– Measured and Indicated Mineral Resource tonnes increased by 54% to 16.3Mt for Yangibana deposits drilled during 2020.

Keep reading... Show less

ASI certifies Rio Tinto’s ISAL smelter for responsible production

Rio Tinto’s ISAL smelter in Iceland has been certified by the Aluminium Stewardship Initiative (ASI) for meeting the highest internationally recognised standards for responsible aluminium production.

The certification continues Rio Tinto’s leadership of the industry on responsible aluminium production from mine to metal, and means customers can be assured aluminium produced at ISAL meets independent environmental, social and governance standards.

Keep reading... Show less

Rio Tinto updates details of tailings facilities

Rio Tinto today released updated information in relation to its global tailings facilities to align with the requirements of the Global Industry Standard for Tailings Management (GISTM) released in August 2020, an initiative co-convened by the International Council on Mining and Metals, United Nations Environment Programme and the Principles for Responsible Investment.

The latest disclosure at http://www.riotinto.com/tailings builds on previously disclosed information on each of Rio Tinto’s global tailings facilities released in June 2019 and the publication of Rio Tinto’s Group Procedure and updated Standard for ‘Management of tailings and water storage facilities’ in February 2019. The changes to existing data are in line with guidance contained in GISTM including updating information previously disclosed.

Keep reading... Show less

Hastings Technology Metals Ltd Quarterly Activities Report

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is pleased to report on exploration and development activities for the three-month period to 31st March 2021. Most of the activity focused on the Company’s Yangibana Rare Earths Project (“Yangibana”) in the Gascoyne region of Western Australia.

Highlights

– Hastings raised $100.7 million (before costs) through a two-tranche equity placement priced at $0.19 per share, with funds to be used to advance development of the Yangibana Rare Earths Project.

Keep reading... Show less

Argyle Diamond Mine Closure: What’s Next for the Sector in Australia?

Click here to read part one of this article, which covers the closure of the Argyle diamond mine.

When the mining equipment permanently shut down at Western Australia's Argyle mine in November 2020, the country's diamond sector entered a transitional period.

As the world's fourth largest diamond-producing asset shuttered, domestic output of the gems instantly declined by as much as 90 percent.

Keep reading... Show less

Top News

Related News