PERTH (miningweekly.com) – The Queensland Minister of Natural Resources and Mines has granted final heritage approval to the Mt Morgan gold/copper project.
ASX-listed Carbine Resources said on Monday that the grant of the heritage approval was another milestone for the project, and was the first of three major approvals required for the project.
The outstanding regulatory approvals for the development of the Mt Morgan project are an Environmental Authority amendment and a regional interest development approval.
A feasibility study into the Mt Morgan project estimated that a capital investment of A$85-million will be required. Based on a 1.1-million-tonne throughput rate, the project is expected to have a nine-and-a-half-year mine life, producing 30 000 oz/y of gold and 3 800 t/y of copper sulphate.
The project’s life could be increased to around 20 years, as a substantial inferred mineral resource existed within the remnant tailings in the Sandstone Gully and Mt Morgan openpit. The expanded case will see the production of some 18 000 oz of gold and 2 000 t of copper sulphate during years 10 and 20 of the mine life.