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

Published: Aug 24, 2017 11:23

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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.

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