Norton Goldfields up-beat about Mt Morgan mine
Posted Tue Feb 3, 2009 1:42pm AEDT
Updated Tue Feb 3, 2009 1:41pm AEDT
A mining company says it remains confident about a proposed gold mine in central Queensland, despite the global economic slowdown.
Norton Goldfields is conducting a feasibility study into a new mine at Mount Morgan, and says it is confident with gold prices at near-record highs.
Project director Andre Labuschagne says there are also pyrite and copper deposits, but it will initially focus on gold to get the project started.
"We'll still produce pyrite and we'll still produce copper, but we might not extract it as a saleable product," he said.
"It reduces the capital requirement quite substantially and it makes the funding so much easier.
"Then at stage two, and that might take six months to 12 months or longer, once we secure the pyrite market we'll just add those few units in and we'll do the full project as per the feasibility study."
Tags: gold, mining, mount-morgan-4714, rockhampton-4700
by ABC NEWS
mt.morgan news
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