New Century Resources boss Patrick Walta flew to Adelaide this week to tout the success of mining rehabilitation at a geoscience convention.
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New Century at Lawn Hill, has just recommenced mining and zinc concentrate export operations on site, focusing on treating the former mine’s historic but zinc-rich tailings.
Mr Walta said the cessation of operations at Century in 2016 paved the way for a focused junior to monetise valuable remaining mineral assets.
“This is a mine site, which with our new approach, plus ongoing remediation work, can take this project’s life through the next decade and beyond,” Mr Walta said.
“This approach can create opportunities, as globally, zinc project permitting, financing and development timelines are increasing.
“Delays in new zinc mine production continue, all zinc mine projects globally since 2000 have taken an average of nine years between scoping study and operations,” he said.
“The restart for New Century Resources took one year.”
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Mr Walta said the tailings-based operations would deliver the Company a Top 10 spot in world producer ranks and be among the lowest quartile cash cost producers, at around US$0.45-50 c/lb.
Meanwhile Geoscience Australia minerals expert Richard Blewett told the convention places like Mount Isa depend on an ongoing pipeline of new discoveries to sustain the town.
“Replacing the inventory is essential as over the past decade there has not been a Tier 1 (world class) discovery in Australia. Ongoing exploration and new ways of exploring with new concepts and technology is required,” Dr Blewett said.
“The Australian resources industry is the most productive and innovative in the world. They will need to continue to innovate if we are to unlock the hidden resource potential that undoubtedly lies beneath cover in the under- explored greenfield areas of the continent.”
Dr Blewett said government played a vital role in reducing the technical risk of exploring in greenfield areas.
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