PERTH (miningweekly.com) – ASX-listed Rex Minerals has moved forward with the development of its Hillside copper project, in South Australia’s York Peninsula, awarding early contractor involvement status to Korea-based Hyundai Engineering & Construction and engineering group AMEC.
Hyundai and AMEC would now produce the project execution strategy, the project schedule and the final price for the main engineering, procurement and construction contract.
Rex MD Mark Parry said on Thursday that the company was progressing a number of important project development and funding initiatives for Hillside, to allow for construction to start, and for copper production to start by 2016.
“We have a very busy period ahead of us with a number of project elements to be brought together and crystallised. We continue to work towards finalising the bankable feasibility study, we are working closely with the state government to secure regulatory approvals, and we have a range of ongoing discussions to secure debt and equity funding, including with potential offtake partners and export credit agencies,” Parry said.
A recently updated mine plan showed that its flagship copper project would deliver over 75 000 t/y of copper, 60 000 oz/y of gold and over 1.2-million tonnes a year of iron-ore concentrate during the first 10 years.