Altona Mining finalises $330m deal for copper-gold mine near Cloncurry
Altona Mining has secured a $330m mining agreement with Chinese construction company, Sichuan Railway Investment Group to develop a copper-gold mine in north-west QLD.
The project is 60km north of Cloncurry, and joints a host of North QLD mining projects, including MMG's Dugald River zinc mine, Adani's Carmichael coal mine and Queensland Coal Exploration's proposed Hillalong Coal Project to name a few.
The open pit copper-gold mine is expected to move around 7 million tonnes of ore per annum, which will include approx 40,000 tonnes of copper and approx 17,000 ounces of gold per annum.
Given the size of the mine, the project will create hundreds of jobs for the region - 300 workers will be needed for the construction of the mine, and an additional 280 workers will be needed for on-going production.
Altona Mining Managing Director, Alistair Cowden said that all going well, construction on the mine will start next year.
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Source: ABC News
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