Australian mining and exploration company Aurelia Metals with two existing mines in the Cobar Basin in New South Wales will now develop the Great Cobar copper mine.
The project involves the development of a satellite base metal and gold deposit located around 0.5 kilometres south east of Cobar, 1.5km north of the existing New Cobar Mine and 8km north of the existing Peak Mine.
Aurelia Metals plans to fund the project internally and make use of existing infrastructure at Peak mine. Copper ore from Great Cobar will be processed at the Peak mine plant, with the development of twin decline from Jubilee to Great Cobar set to start from July 2025.
The Great Cobar copper mine was originally founded in 1870. It was the biggest copper mine in Australia, with over 2000 employees engaged in mining, wood carting and smelting at its peak. Following the end of the War the price of copper collapsed internationally, leading to the closure of the mine on 16 March 1919.
A feasibility study of the historic mine found it had an expected production of 77,000 tonnes of copper, 505,000 ounces of silver and 84,000 ounces of gold over an eight year mine life. The study also found the mine had significant exploration potential through underground drilling.
“I am confident that the Great Cobar orebody will continue to grow beyond what we’ve modelled in this study,” Aurelia Metals Managing Director and Chief Executive Officer, Bryan Quinn, said.
“Copper has a very strong future,” Mr Quinn added.
Detail: https://aureliametals.com/great-cobar-project-approval/
