Miner 29Metals enjoyed a ramp up in production last year despite major flooding halting operations at its Capricorn Copper Mine for four months.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The mine was hit with about 500mm of rain in March 2023 - costing the company millions in clean-up and production costs
However, it bounced back in later in the year with production increasing to 2.4 kilotonnes (kt) up from 1.1kt in the September quarter.
In November, the mine, about 120kms north of Mount Isa, was given government support following the flood with then Queensland Deputy Premier Steven Miles declaring the project as prescribed and as a piece of critical infrastructure.
The purpose of declaring a project prescribed allowed the mine to overcome delays in obtaining necessary approvals.
"At Capricorn copper, the declarations conferred by the Queensland Government during the quarter are a strong show of support for the full recovery of operations following the extreme weather event in March 2023 and the long-term future of the site," 29Metals managing director Peter Albert said.
The company also recorded an improved safety record in the December quarter - cutting its total recordable injury rate down from 6.5 from 7.7 in September.
29Metals is also continuing its search for a new CEO after Albert announced his retirement from April 2024.
