First copper expected from Carrapateena in 2019 says Australia’s 3rd biggest copper producer.
OZ Minerals has a new and larger $975m plan to expand its underground mine at Carrapateena in South Australia to produce 2.8 million tonnes to 4 million tonnes or ore per year.
Under the upgraded plans the underground mine will see it producing 67,000 tonnes of copper and 76,000 ounces of gold annually once it begins operating.
The Adelaide based company is also flagging a $150 million processing plant at Whyalla that’s expected to create about 100 local jobs.
It’s a big boost on earlier plans for a $770m mine producing 55,000 tonnes of copper and 58,000 ounces of gold.
“The larger Carrapateena project is very compelling,” OZ managing director Andrew Cole was reported in the media as saying.
“With such strong financial metrics, we have decided to commence development of the mine’s decline and accelerate the prefeasibility study.”
Carrapateena is reportedly Australia’s largest undeveloped copper deposit and is estimated to contain 6.3 million tons of copper and 8.4 million ounces of gold.
OZ Minerals update: http://www.ozminerals.com/media/oz-minerals-carrapateena-update-view-webcast-here/