Aeon hesitant to take on all Century's assets and liabilities
PERTH (miningweekly.com) – ASX-listed junior Aeon Metals has told fellow-listed metals miner MMG that while it is interested in some of the assets that form part of the now-defunct Century zinc mine, in Queensland, the company is unable to buy the entire asset.
Aeon Metals chairperson Tom Mann previously said that the company was in confidential discussions with MMG regarding the acquisition of the Century mine, which was placed under care and maintenance in August last year, as these assets could expedite the development of Aeon’s own Walford project.
However, Mann said at the company’s annual general meeting this week that there were complexities arising from Century’s remediation timelines and obligations and the chain of responsibility legislation in Queensland. He said the company was hopeful that an arrangement could be negotiated to maintain a processing hub at Century, which would benefit Aeon shareholders, the local communities and the Queensland government.
However, Aeon stated on Wednesday in a regulatory filing that the company was unable to pursue a transaction at the Century mine, based on MMG’s preferred structure, which involved taking all of the assets and liabilities associated with the Century mine and infrastructure.
Century was Australia’s largest opencut zinc mine before being placed under care and maintenance in August of last year.
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