SANDFIRE Resources and Talisman Mining have received the final approvals to start construction of the A$90 million Monty copper-gold mine in Western Australia.
The mining proposal and mine closure plan were approved, which paves the way for site development to begin.
The partners awarded the $8.2 million contract for civil and earthmoving works to the Yagahong Alliance last month.
Yagahong will begin the construction of the box-cut and the 14km haul road that will connect Monty to Sandfire’s DeGrussa plant, where the ore will be processed.
Cutting of the decline portal for the new underground mine is expected to begin in the December quarter with underground development expected to around a year to access first ore.
Sandfire managing director Karl Simich said the mining proposal was assessed and approved in just three months, under the Department of Mines and Petroleum’s new guidelines.
“This is a credit to our Monty development team, the Doolgunna exploration team and our supporting consultants – and continues Sandfire’s impressive track record of rapid and efficient permitting and execution of development projects,” he said.
Monty is set to produce 74,400 tonnes of copper, 38,400 ounces of gold and 413,300oz of silver over 30 months at all-in sustaining costs of $1.90 per pound of copper.
Sandfire shares closed 1c higher yesterday at $5.97, while Talisman shares were 1.5c higher at 25c.
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