Cloncurry-based copper company CuDeco has inked an export deal for its Rocklands project in the same week as a visit from Mines Minister Dr Anthony Lynham and senior officials from the ministry.
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CuDeco’s Managing Director, Dr Dianmin Chen said the official visit was a vote of confidence in Rocklands and the future of the state’s mining industry.
“Rocklands is making a vital contribution to new jobs, investment and economic growth in Queensland,” Dr Chen said.
“Government support is crucial to maintaining community confidence in the mining industry’s social ‘licence to operate’ and we are keen to meet the expectations of all stakeholders as we deliver this important new project.”
Rocklands is one of the largest copper projects in the final stage of development in Australia and Dr Chen said CuDeco was now focused on completing the construction and commissioning of the project.
Dr Chen said CuDeco has started of ore feed commissioning and was now working to increase the amount of ore processed through the plant and further optimise performance ahead of the first targeted shipment of native copper prior to the end of the month.
The project got a financial boost on June 21, CuDeco told the ASX it had sign a term sheet with major shareholder China Oceanwide International Investment to take all native copper from Rocklands.
The Company now expects the first sulfide copper concentrate to be produced in July and first shipment of copper concentrate either in late September or the first half of October 2016.
“CuDeco’s management, operators and contractors are all focused on delivering this important new project for the future of Cloncurry. Rocklands can help ensure the region continues to benefit from its minerals wealth for generations to come, underpinned by the support of government and all other stakeholders,” Dr Chen said.
Dr Lynham was delighted to visit Cudeco’s Rocklands Operations.
“There’s no better time to commission the process plant and this will significantly benefit the local economy in a large way,” Dr Lynham said.
Rocklands is expected to generate around 180 jobs at full production, creating up to 400 new jobs in the North Queensland region due to economic spin-offs, and CuDeco has committed to maximising local employment opportunities, including scholarships for the local Indigenous community.
CuDeco said it had injected millions of dollars into the regional economy through its flagship project, with Rocklands set to deliver significant royalties to the state of Queensland during its operational life, providing further benefits to the whole community.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
