Funding boost for Dianne copper mining plans

A $1.3 million grant is set to help propel Revolver Resources towards its goal of restarting mining at the old Dianne copper site within the next 12–18 months. Revolver managing director Pat Williams said the company was extremely pleased to be the recipient of the very first grant made by the Queensland Critical Minerals and Battery Technology Fund. The company has already completed initial process engineering work for a proposed low-capital heap leach/SX-EW development at the Dianne project, which boasts a JORC resource of 1.6Mt at 1.1 per cent copper. And it is in commercial discussions with potential private investors to acquire equity interests directly in the Far North Queensland project. "Given the stated objectives of the fund, I believe that this demonstrates excellent validation of the production potential of our Dianne copper mine project," Mr Williams said. "Critically, this non-dilutive funding source enables us to rapidly unlock the final feasibility pathway towards a targeted recommencement of mining operations at Dianne within the next 12-18 months." Related: Funds on table to supercharge battery supply chain The former Dianne copper mine produced 63,758 tonnes of high-grade copper ore with an average grade of 22.7 per cent copper from open-cut and underground operations between 1979 and 1983 before mining operations ceased. Revolver’s regional exploration strategy at the Dianne project also continues to test the volcanogenic massive sulphide (VMS) and intrusive related gold system (IRGS) potential in the Larramore Volcanics Belt, located to the west of the Dianne deposit. The Queensland Critical Minerals and Battery Technology Fund grant will be used for technical studies and site-specific engineering designs for the Dianne copper mine project incorporating: SX/EW process engineering design (A$800,000 grant exclusive of GST) Column-scale leach testwork – oxide and sulphide; Structural, mechanical, electrical design of process infrastructure; Design of crushing and agglomeration circuit; Final Process Flow Diagram (PFD); and Process and instrumentation design. Site engineering design (A$500,000 grant exclusive of GST) Civil and earthworks design; and Supporting studies and integrated design of industry-leading environmental management plan. Revolver said these critical path workstreams were scheduled to commence from next month. The lead time to first copper metal production from a positive recommencement decision is expected to be less than 12 months. Subject to a positive financial investment decision, the new mining operation is expected to support about 23 new full-time jobs and opportunities for 10 apprentices and trainees. Resources and Critical Minerals Minister Scott Stewart said Queensland was host to large and long-lived copper mining activities, with new deposits still being discovered, and developments successfully progressed. “This supply, coupled with the global embrace of sustainability, is driving interest in our state and pushing the clean energy transition forward," he said. “The renewal of old mines is a key action identified in our Queensland Resources Industry Development Plan and it’s great to see Revolver Resources take advantage of the opportunity a legacy operation like this is presenting.”

Funding boost for Dianne copper mining plans

Industry Queensland

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