https://www.engineeringnews.co.za

Mungana granted mining lease for King Vol

Mungana granted mining lease for King Vol

Photo by Bloomberg

28th July 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Mungana Goldmines has been granted a mining lease for its King Vol project, in Queensland, paving the way for production to start in 2017.

MD Tony James told shareholders on Tuesday that the granting of the mining lease was a significant milestone towards the development of the high-grade zinc project.

“The outlook for development of the King Vol deposit is very strong. The project has high-grade zinc and an estimated preproduction capital cost that is less than that of a greenfield project owing to there already being key plant components and major infrastructure in place.”

A recent scoping study estimated that the King Vol project would require a capital investment of A$37.4-million, with an estimated A$7-million of additional funding required before the project became cash flow positive.

The project would likely produce 35 900 t/y of zinc, 840 t/y of copper, 910 t/y of lead and 185 000 oz/y of silver-in-concentrate, delivering a net operating pretax average cash flow of A$35-million a year.

The project was expected to have an initial mine life of some four-and-a-half years.

Mungana was targeting first production from King Vol in early 2017.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.948s - 140pq - 2rq
Subscribe Now