New Century Resources has obtained enviromental approvals for in-situ deposits Silver King and East Fault Block at the Century Mine in Queensland.
As well, the optimisation study had reinforced the highly value-accretive potential of Century, which New Century managing director Patrick Walta said “materially expanded the production profile and life of asset while reducing site-wide unit costs”.
“The results underscore the significant near-term opportunity available via the development of Silver King and East Fault Block that will open up the avenue to continue the utilisation of about $2 billion previously invested in infrastructure at Century to 2030 and beyond,” he said.
“We look forward to updating shareholders on further progress in the coming months as we progress toward completion of debt financing and a final investment decision.”
Long lead items have been ordered to maintain critical paths, including ball mill construction (about 86 per cent complete).
Initial underground mining equipment has been secured, with delivery times to suit schedule requirements. Supply analysis has demonstrated that a mobile fleet acquired through hire purchase arrangements is the best option for the Silver King mine. Queensland Mining Rebuild Centre (QMRC) has been engaged to provide the initial underground fleet from its Queensland workshop facilities.
GR Engineering Services completed the Front-End Engineering and Design (FEED), progressing to execution of engineering, procurement, and construction (EPC).