CUDECO copper company used a visit of Minister for State Development and Minister for Natural Resources and Mines Dr Anthony Lynham to showcase the progress of work at its flagship Rocklands site.
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Dr Lynham was in the north-west on Tuesday for the North West Minerals Province Taskforce meeting in Mount Isa.
Afterwards he and senior ministerial officals drove down to Cloncurry for a tour of Cudeco’s operation.
The site 17km out of Cloncurry is close to commissioning its first copper and Cudeco has announced Chinese buyers have been snapped up to buy the product.
Cudeco has signed a term sheet with major shareholder China Oceanwide to take all native copper from the Rocklands site.
The term sheet includes a fair processing charge and a payable copper value of no less than 96.5% of contained copper.
The formal documentation for the off-take agreement is expected to be completed by the end of the month.
The deal will provide financial security for the project.
Cudeco says it will generate 180 jobs at Rocklands and 400 jobs across North Queensland in economic spin-offs.
Cudeco’s new managing director Dr Dianmin Chen welcomed Dr Lynham to the site as the project begins to build momentum.
At the end of May Cudeco announced it had started ore feed commissioning after successfully testing the crushing circuit, high pressure grinding rolls, ball mill and flotation circuits.
See page 6 for full story.
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.
