Redbank gives cost estimation for NT project By: Esmarie...

Redbank gives cost estimation for NT project

By: Esmarie Swanepoel
27th April 2010
PERTH (miningweekly.com) Australian copper company Redbank Copper has reported that the refurbishment, design and expansion of the Redbank mine, in the Northern Territory, would cost an estimated A$17-18 million.

The facility would be designed to allow the processing of 220 000 t/y of oxide ore, grading 1,5% copper, from the Redbank, Azurite and Bluff deposits, to produce 2 500 t/y of copper cathode.

The estimated costs would now be combined with the development study of the Redbank mine, which was currently under way, along with the mine study, and would be used when a decision to continue was issued.

This decision would only be taken once funding for the project has been locked into place.

The Redbank mine project has a total indicated and inferred Joint Ore Reserve Committee compliant resource of around 6,24-million tons, at 1,5% copper, for 95 900 t of contained metal. This estimate includes an indicated resource of 2,76-million tons, at 1,6% copper, and an inferred resource of 3,48-million tons, at 1,5% copper.

The company was aiming to start production during 2011, and the project had an estimated life-of-mine of ten years.

Edited by: Creamer Media Reporter