SMM7, 2 Feb: the new century resources company (New Century) restarted the mining of (Century Mine) in the century zinc mine on budget and on schedule, and the recovery of the mining work has now been completed by about 95 percent.
The mine, 250 kilometers from Mount Issa, is expected to rank among the top 10 zinc mines in the world once full capacity is reached.
It first went into production in 1999 and was shut down by its former owner, MMG, in 2016. In June 2018 alone, New Century hired up to 290 employees and contractors to renovate and debug mines for the Century New Mining Restoration Project. The company bought Century Zinc directly in 2017, when it increased its stake in the mine from 70 per cent to 100 per cent. Subsequently, New Century Resources offered to buy the remaining 30 per cent of Century Bull, a privately owned company focused on mining recovery.
The main construction work of Century New Mine in June this year includes the completion of high-voltage power transmission, civil and earthworks, excavation of tailings pits and mud pipelines, hydraulic testing, and the signing of gas turbine supply agreements with power plants. Early resumption of diesel power and other work in order to carry out mine dredging and commissioning.
The first buyers of Century New Mine are the Mercuria Energy deal and Transamine Trading, both of which signed preliminary supply delivery agreements with the mine in February 2018 for about 750000 tons. At present, the mine's processing plant has now been put into operation, the recruitment of maintenance personnel has been completed, and the first batch of products is expected to be officially produced in August 2018.
Cao Yuuqin, (SMM) of Shanghai Colored Network, translated from extranet
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