Rocklands copper project, Australia
Name and Location
Rocklands copper project, Queensland, Australia.
Client
CuDeco.
Project Description
The project involves the construction of a three-million-tonne-a-year processing plant, which is expected to produce about 480 000 t/y of copper/gold, pyrite/cobalt and magnetite concentrate.
The plant has been designed to increase throughput to 5.5-million tonnes a year.
Value
$75-million has already been spent on the project.
Duration
Not stated.
Latest Developments
CuDeco has secured a $100-million credit facility to complete development work at its flagship Rocklands project.
The offer for the credit facility was received from Minsheng Banking Corporation, China’s largest non-State-owned bank, and a Fortune 500 company.
Under the terms of the facility, Minsheng will provide a loan of up to $100-million at an interest rate of 7% a year.
The facility will be available for drawdown within 12 months of the final documentation and repayment will be made between 18 months and 30 months from the date of first drawdown.
The facility provided CuDeco with access to sufficient capital to complete mine development at Rocklands and to provide sufficient working capital until the start of production.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
CuDeco, tel +61 7 5503, fax +617 5503 0288 or email admin@cudeco.com.au.
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