Robust outlook for Mount Chalmers copper operation

A prefeasibility study shows Mount Chalmers to be a technically and financially robust copper project able to support a stand-alone 1Mtpa process plant and mine life of more than 10 years. It would take a capital outlay of just over $190 million to bring the Central Queensland operation online, with the reward being an estimated life-of-mine revenue of $1.64 billion, the study results show. QMines released the study findings today for its flagship project, located 17km north-east of Rockhampton. It said the PFS results were based on modelling of mining and processing of the Mount Chalmers resource only and did not take in QMines' nearby Develin Creek and Woods Shaft resources. "The completion of the prefeasibility study represents a significant milestone for the business and our shareholders as we continue to demonstrate Mount Chalmers is a project with scale and potential for development," executive chairman Andrew Sparke said. "The company has demonstrated that Mount Chalmers can be commercialised using industry standard treatment processes and techniques. "With improving base metals prices associated with supply constraints, Mount Chalmers represents a low-cost, high-margin and long-life project with immediate upside from three satellite deposits and a large exploration package." The PFS assesses the development of a standalone copper and gold mining and processing operation at Mount Chalmers, utilising a three-stage open pit operation and processing that material onsite. COMO Engineers have designed a flow sheet and process facility to treat 1Mtpa using industry-standard crushing, grinding and flotation circuits producing three concentrate types. These are copper/gold, zinc/silver and pyrite/gold. The proposed Mount Chalmers mining operation is supported by a maiden ore reserve of 9.5Mt (proved and probable) and 837,011 tonnes of potential mining material (inferred). Related: QMines reports great strides in CQ copper plans This demonstrates an initial mine life of 10.4 years. QMines notes that additional known deposits provide immediate expansion opportunities. The study points to a net present value (NPV) of $373 million and a 54 per cent internal rate of return (IRR). Read the full Mount Chalmers prefeasibility study announcement HERE You may also like: https://industryqld.com.au/alma-boosts-coffers-for-further-drilling-at-briggs

Robust outlook for Mount Chalmers copper operation

Industry Queensland

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