PERTH (miningweekly.com) – Base metals developer New Century Resources has reported another offtake contract over its Century zinc mine, in Queensland, this time with commodity trader Concord Resources.
New Century told shareholders on Tuesday that the Concord offtake represented around 5% of the production from Century’s scheduled operation, which were set to start in the third quarter of this year.
The five offtake contracts executed to date now accounted for some 80% of the scheduled production at the Century mine, the company told shareholders.
The company was hoping to execute more offtake agreements, and was targeting a total of 90% of production from the Century mine.
New Century is considering a tailings operation at the project area to treat the 78.9-million tonnes of resource at the project, which is estimated to contain some 2.38-million tonnes of zinc, 370 000 t of lead and 31.5-million ounces of silver.