New Century's rehab costs decline

20th January 2021 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( – The Queensland Department of Environment and Science has agreed to a A$14.1-million reduction of the estimated rehabilitation cost (ERC) for the New Century zinc mine.

ASX-listed New Century Resources on Wednesday told shareholders that the ERC had now been reduced to A$183.9-million, following extensive engagement with stakeholders, including an independent expert panel.

“This ERC reduction agreement is a fantastic achievement for the company and a demonstration of our strategy to provide for material progressive mine rehabilitation while delivering beneficial economic outcomes,” said New Century MD Patrick Walta.

“The company is already planning its next submission and looks forward to making further reductions over the coming years as our economic rehabilitation activities progress.”

The New Century zinc mine recently reached a production milestone, delivering its 500 000th tonne of zinc concentrate since production restarted in late 2018.