Name of the Project
Century zinc mine project.

Location
The Century zinc mine is located in North West Queensland, Australia.

Client
New Century Resources.

Project Description
The project aims to restart operations at the Century zinc mine, which has proven ore reserves of 77.3-million tonnes at 3.1% zinc equivalent for the mine’s tailings deposit.

The results of the restart feasibility study have concluded that the Century mine will again be one of the top ten zinc operations in the world, with steady-state production forecast at 507 000 t/y of zinc concentrate at 52% zinc over an initial 6.3-year mine life from only the Century tailings deposit.

The deposit will be mined using hydraulic mining methods. At a capacity of 15-million tonnes a year, this process will involve the use of five track-mounted monitor units, four actively working individual faces throughout the deposit and one on standby.

Minor modifications will be made to the existing Century mine processing plant to enable it to process reclaimed tailings slurry at a design throughput of 15-million tonnes a year. This includes the installation of an additional seven 100 m3 float cells and four regrind mills during the first 15 months of operations.

Operation of the mine and plant will take place in stages for the systematic expansion of hydraulic mining operations.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated net present value, at an 8% discount rate, of A$1.31-million and an internal rate of return of 270%.

Value
Start-up capital costs are estimated at $50-million.

Once in production, further ramp-up capital of A$63-million will be invested over a 15-month period for a total capital requirement of A$113-million to bring the operation into full production at 15-million tonnes a year. Ramp-up capital is proposed to be funded from operational cash flow.

Duration
First production is expected in the third quarter of 2018.

Latest Developments
The Century zinc mine has produced its first zinc concentrate.

The start of tailings slurry flotation at the mine represents an important milestone, demonstrating the initial proof of concept for the large-scale flotation of ore from the Century tailings deposit through the existing processing facility on site.

Ramp-up activities at Century are now focused on progressively optimising concentrate product quality through the zinc cleaner circuit, followed by zinc and silver recoveries and plant throughput.

Hydraulic mining operations started earlier in August, with New Century saying excellent progress has been made. Activities to date are demonstrating the tailings deposit will be amenable to raid ramp-up to target slurry density.

Key Contracts and Suppliers
Sedgman (EPC contractor and operations and maintenance contract), Ausenco (preferred bidder for the complete refurbishment and commissioning of operations associated with the Century zinc processing plant, slurry pipeline and Karumba port facility).

On Budget and on Time?
The project is on track to restart production by the third quarter of this year.

Contact Details for Project Information
New Century Resources, tel +61 8 6142 0989 or email info@newcenturyresources.com.