29 October 2008 - First Copper Rolls Into Darwin The first production of copper produced at the newly commissioned Compass Resources mine near Batchelor was trucked into Darwin today.The Minister for Resources, Kon Vatskalis, was on hand at East Arm Port as the first 69 tonnes of copper produced at the mine was unloaded this morning.
"Mining and exploration are key drivers behind the Northern Territory's economic growth," said Mr Vatskalis.
"Compass Resources Browns Oxide Project currently employs around 100 people 30% of whom are Indigenous and will see copper, cobalt and nickel produced from the open pit mine.
Despite the slowing economic conditions this does not look like a company that was about to go into VA. And from these press announcements one would certainly believe that it had the support of the NT State Government.
Now would be a good time for the NT State Government to show that support, and assist in mediating a solution that is acceptable to Shareholders, Creditors and Employees alike.
CMR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
