Mining restarts at Capricorn
PERTH (miningweekly.com) – ASX-listed 29Metals has restarted mining activities at the Mammoth and Greenstone deposits, as well as the mineral processing operations at its Capricorn copper project, in Queensland.
The company in early March halted production and all non-essential activity at the copper operation, as road access was lost and heavy rainfall resulted in a substantial increase in the volume of water held on site.
In May, 29Metals unveiled its recovery plan, with Phase 1 to focus on the Mammoth and Greenstone mines, which were operationally ready.
Phase 2 of the restart strategy would focus on the Esperanza South operation, with dewatering and rehabilitation efforts at the mine to be undertaken during Phase 1 to enable full recovery operations during Phase 2.
29Metals was expecting recovery costs to reach between A$30-million and A$38-million between the September quarter and the end of the year, with a further A$17-million to A$20-million of recovery costs planned for the mid-first half of 2024, the company told shareholders.
In terms of production outlook, the company is targeting between 4 000 t and 6 000 t of copper production and between 20 000 oz and 30 000 oz of silver production from Capricorn between the September quarter and the end of 2023, with production reaching between 3 000 t and 4 000 t of copper and between 8 000 oz and 12 000 oz of silver to the midpoint of the first half of 2024.
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