MMG Signs $1B Loan Facility with CDB for Dugald River Zinc Project

Mining Weekly reported that miner MMG has signed a $1B loan facility to develop its Dugald River zinc project which is situated in Queensland. The project is considered as one of the world’s biggest known undeveloped zinc deposits and will become a major investment into the resources sector in Australia.

As quoted in the market news:

The project has a mineral resource of some 53-million tons, at 12.5% zinc, 1.9% lead and 36 g/t silver. The mine was expected to process an average of two-million tons a year of ore initially, to produce 200 000 t to 220 000 t of zinc concentrate, between 27 000 t and 30 000 t of lead in concentrate and around 900 000 oz of silver a year.

Click here to read the full Mining Weekly report.