XSTRATA Zinc will finish a study in November into the Black Star Open Cut which, if found viable, will extend the mine's life well past 2016.
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Xstrata Zinc Chief Operating Officer Brian Hearne said the Black Star Deeps Project increased the depth of the open pit to 400m below ground surface level, about 100m below the previous design, to continue to sustain production levels.
"These projects add value to our business and are great examples of our organic growth opportunities," he said.
Mr Hearne and Xstrata Copper's chief operating officer Steve de Kruijff hosted the Natural Resources and Mines Minister Andrew Cripps on a tour of the Black Star Open Cut and Handlebar Hill Open Cut mines last week.
Late last year Xstrata Zinc announced it had completed the $133 million Black Star Open City Deeps Project and $40 million Handlebar Hill Open Cut Project.
Mr Cripps said it was his fifth mines tour since being appointed minister in April, and he was very impressed with Xstrata's operations.
He said he recognised the enormous value of the North West Minerals Province to the Queensland and Australian economy, and his tour of some of Xstrata's operations had given him a valuable insight into the industry here.
Mr Cripps said the Department of Natural Resources and Mines is maximising the long-term, orderly and sustainable development of the state's significant natural resource wealth, while demanding world's best social and environmental outcomes for Queenslanders.
"The resources sector is one of the four pillars of the economy and will play a pivotal role in curbing this state's $2.8 billion deficit and ballooning debt, a legacy left to us by the former Labor Government."
Earlier in the week Mr Cripps gave the government's seal of approval for a new multi-user rail load-out facility to service mining projects in the region.
The facility would be funded by joint venture partners Xstrata Copper, MMG and Cudeco.
"The Queensland Government will be actively working with the three mining companies to deliver the rail load-out facility for the region," said Mr Cripps.