$95m mining services contract brings a Queensland copper mine to within 12 months to production

Barminco Holdings has signed a four-year mining services contract to undertake a number of underground mining services including mine development and production.

The contract, valued at approximately $95 million, will run with a one year option to extend.

The site could be in production by as early as mid-2019.

This long-term contract further adds to Barminco’s presence across north-west Queensland, having operated at the nearby Dugald River zinc project for over six years.

The Mount Colin copper mine is located between Cloncurry and Mount Isa in north-west Queensland and is projected to contain an ore reserve of approximately 1.3Mt at an average grade of 2.9 percent copper as well as 0.4g/t gold.

It should take up to two years to steady the mine to a production rate of 400,000 tonnes per annum according to Round Oak Minerals Chief Executive Officer Rob Cooper.

Round Oak has a toll treatment agreement with Glencore for the ore mined from Mount Colin, which will be processed at the Ernest Henry operation.

 

PROJECT DETAILS

Source: Projectory

Mount Colin copper mine

Preferred primary contractor announced
North-west Queensland
$51m – $100m
Round Oak Minerals
Barminco
2018-07-31
2019-07-31
65