Mt Carbine leases extended
PERTH (miningweekly.com) – The mining leases for the Mt Carbine project, in Queensland, have been renewed for a further 19 years, tungsten producer EQ Resources said.
The company told shareholders that the renewal of the two mining leases was core to the company’s plans to expand its tungsten mining base.
“Permit renewal is a big step forward in the development plan for Mt Carbine and should be seen as a vote of confidence in the project. Mt Carbine is already a major jobs provider in the region and will grow further in coming months as production of primary ore from the re-opened Andy White pit cements the economics of the project and changes the company profile,” said EQ Resources CEO Kevin MacNeill.
“Mt Carbine will graduate from producing tungsten concentrate from low-grade previously-mined waste to full-scale mining and treatment of higher-grade primary ore. EQ Resources is looking to make a major contribution to economic development in the Cairns hinterland, upgrading services and providing employment opportunities in a region hit hard by the Covid pandemic lockdowns.”
An updated bankable feasibility study completed last year into the expansion project at Mt Carbine estimated a capital cost of A$21.4-million to produce 30 960 t of concentrate over a mine life of 14 years.
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