OZ Minerals to Build New Copper Mine at Cost of $700 million

Published: Aug 24, 2017 11:23

Save

OZ Minerals Ltd. said Thursday it would invest A$916 million or $724 million to develop its Carrapateena copper mine in Australia, to meet the increasingly growing demand for copper across the global.

SHANGHAI, Aug. 24 (SMM) – OZ Minerals Ltd. said Thursday it would invest A$916 million or $724 million to develop its Carrapateena copper mine in Australia, to meet the increasingly growing demand for copper across the global.

The Carrapateena copper mine, which is about 160 kms or 99 miles north of Port Augusta, will come online in the fourth quarter of 2019, and yield an average of 65,000 tonnes of copper and 67,000 ounces of gold a year over 20 years.

Its cash costs are estimated at 62 cents per lb.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

copper mine copper price copper ore

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

The most-traded BC copper contract closed up 0.43%, with trading activity sluggish as the Chinese New Year holiday approaches. [SMM BC Copper Review]

9 hours ago

Pre-Holiday Copper Cathode Inventory Buildup Hits Four-Year Low as Supply Tightens and Demand Shows Resilience

【SMM Analysis: Pre-Holiday Copper Cathode Inventory Buildup Hits Four-Year Low, Supply Tightens, Demand Shows Resilience】Ahead of the Chinese New Year this year, the copper cathode inventory buildup process slowed down significantly......

9 hours ago

10 hours ago

Chinese New Year Holiday Approaches, Brass Billet Operating Rate Pulls Back MoM

[SMM Brass Billet Express] This week (February 6–February 12), the operating rate of the brass billet industry fell 6.09 percentage points MoM to 40.31%, and production activity pulled back. As the Chinese New Year holiday approached, new orders from downstream sectors cooled significantly, and enterprise production pace continued to slow down. The industry will fully enter holiday mode next week, and the operating rate is expected to drop to 0%. Attention will be paid to post-holiday work resumption and demand recovery.

10 hours ago