OZ Minerals is to develop its fourth mine, the West Musgrave copper-nickel Project in Western Australia, at a cost of $1.7B.
The new project is to be one of the largest fully off-grid, hybrid renewable powered mines in the world with an initial 80% renewable penetration drawn from wind and solar generation.
Developed with agreement from the First Nation’s Ngaanyatjarra people, the new mine includes a pathway to net zero scope 1 emissions by 2038.
“The pathway is aligned with the potential transition to an electric haulage fleet at the first engine change out, together with exploring other initiatives to reduce diesel and the application of offsets.”
With a projected 24 year life, the project will create 1,500 jobs during construction and over 400 jobs in ongoing operations.
OZ Minerals Chairman, Rebecca McGrath, said: “The Board’s approval of West Musgrave is a fundamental step towards realising OZ Minerals’ strategy to evolve into a modern minerals producer set to supply global copper and nickel markets as the world moves into the de-carbonisation and electrification era.”
Media Release: https://www.ozminerals.com/en/investing-in-us/asx-releases/2022-asx-releases/green-light-for-west-musgrave-project