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Oz Minerals hikes Malu underground resource

30th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper and gold miner Oz Minerals has reported a 10% increase in the mineral resource estimate for the Malu underground project, in South Australia.

The underground resource was currently estimated at some 75-million tonnes, grading 1.2% copper and 0.6 g/t gold, while the reserve was estimated at 11-million tonnes, grading 1.5% copper and 0.6 g/t gold.

The Malu underground project forms part of the greater Prominent Hill operation, with operations expected to start in the fourth quarter of 2014, and to last until the end of 2025.

The underground project extended the depth of the current openpit operations, and would be accessed from the existing underground infrastructure at the Ankata underground operation. The orebody would be selectively mined and full production would be reached by the fourth quarter of 2015.

“The Malu underground operation will be integrated with the existing Ankata underground operation. It will leverage upon the existing underground mining operations team and its equipment and infrastructure, improving economies of scale for the underground mining operation,” said Oz Minerals MD and CEO Terry Burgess.

He pointed out that more than three years’ mine life has been added to the operation since the ore reserve was first estimated.

Edited by Creamer Media Reporter

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