New Century Resources says it has successful load its first shipmeny of zinc concentrate at Karumba Port onto its transshipment vessel MV Wunma.
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In an announcement to the ASX New Century said the shipment was 10,000t zinc concentrate, “delivered on schedule and within contract specifications to one of the largest smelters in China.”
It is the first commercial use of the transhipment vessel since early 2016 and it has allowed the Company to complete another forward sale of 10,000t of zinc concentrate, generating a further $15.3 million in revenue.
It represents another major milestone for the re-opened Lawn Hill mine just 15 months after listing New Century Resources on the ASX.
New Century Resources Managing Director Patrick Walta said they had now demonstrated the viability of the operation’s entire logistics chain from hydraulic mining to tailings reprocessing, slurry pipeline operations, port operations and concentrate transhipment.
“The completion of the first transhipment of concentrate to the export vessel is an incredible achievement by the entire New Century team,” Mr Walta said.
“To start shipping concentrate just 15 months after listing is a testament to the strong dedication and culture within the Company. The entire team should be proud of their role in the achievements of the business to date, which is creating a strong platform for continued growth at Century and beyond.”
The first shipment will be delivered to China contractual specification and contains no penalties for lead or carbon and only an immaterial penalty for silica.
Mr Walta said that while the Company progressed to achieving long term production of its steady state concentrate via the load commissioning process, it has received strong market demand for its current commissioning grade concentrate.
He said all production to date has been sold.
According to the release other New Century achievements in October were a second 10,000t concentrate forward sale in January with bids from offtake partners to buy more commissioning grade concentrate for European and Asian markets.
They said there was also interest from other zinc producers to trial Century concentrate to blend out impurities within concentrates from other operations, such as manganese and iron.
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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.
