Ann: Nifty Copper Project Restart Financing Update, page-348

Well, it would be worthwhile for a study to be done as to how viable the operation could be if it was run say as it then was, at about 20,000tpa at current prices. The plant was designed for twice the volume of ore, so was running inefficiently but that might be dealt with by running it campaign style at 2 weeks on 2 weeks off. From memory the Nifty mine had a complete reline of the long conveyor system, which would likely once installed be a lot less fuel intensive as no fuel had to be burnt pulling the trucks themselves to the top. It was likely run on diesel, to generate power but this would be better now with gas fuel. Just up the road North West Shelf. Reserved % gas for WA use, by WA state law now? Price better too?
Regarding haulage too, there is a new line of hybrid haulers which are diesel electric and in part power themselves by charging on the down mine run. WGX is getting these. Has all the haulage gear been sold off, or is it still sitting there under C&M? I cannot remember.
But yes, the point is there that there were difficulties raising production, even after major investment in refurbishment. Wondering if there were ventilation problems. Nifty was getting deepish and it gets hotter.
There is a fair bit of higher grade ore around the periphery of the mined area, but it was not being accessed at the time. A good way off. I got the impression that the previous (Indian) owners who are mainly in the smelting business in India, had run the mine down and cherrypicked, cutting every possible corner, before they flogged it off for not very much, (soon learnt why) which caused expensive problems for MLX. Perhaps if there was a good positive outcome the underground Nifty mine and plant could be floated off with a good operational study and plan by some leading consultants. Worley Parsons come to mind.
At the time Nifty was di-worse-ification for MLX and a very bad play. Low copper prices were crucial in the losses. It should be seen as a relatively high cost mine but even these can be lucrative if the expected copper boom takes off. i