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MMG Ltd. (HKEX:1208) announced that mining at its Century mine concluded this past August. Century had operated for 16 years, and was Australia’s largest open-pit zinc mine.
MMG Ltd. (HKEX:1208) announced that mining at its Century mine concluded this past August. Century had operated for 16 years, and was Australia’s largest open-pit zinc mine.
As quoted in the press release:
MMG expects to complete processing of the approximately 700,000 tonnes of Century ore built up during the final months of mining operations in 2015.
Additionally, stockpiled ore from the Dugald River project also located in north-east Queensland will be processed at Century into early 2016. The Dugald River ore was produced during a trial stoping program at the site in 2014.
Century is expected to produce 320,000–370,000 tonnes of zinc in zinc concentrate during 2015, in line with annual production guidance. Stable first half production at Century has positioned it to deliver during its final year of concentrate production.
Marcelo Bastos, chief operating officer at Century, commented:
The completion of mining at Century is a considerable factor in the shrinking global supply of zinc. We remain positive about the long-term fundamentals for zinc, which supports our decision to invest in Dugald River, one of the world’s highest grade undeveloped zinc deposits.
Click here to read the full MMG Ltd. (HKEX:1208) press release.