The prolonged precipitation in Australia's Queensland region has led to a temporary suspension of the Capricorn copper mine owned and developed by 29Metals.
The water build-up in regulated structures on-site hampered the dewatering of Esperanza South underground mine, a part of the Capricorn project, consequently stalling the planned resumption of mining activities.
Capricorn's mineral resources amount to 65 million tonnes, and ore reserves amount to 19 million tonnes at 1.7% copper content. The mine life of the project is estimated at 10 years minimum.
“Unfortunately, the combination of elevated water levels at the beginning of the wet season (as a result of the event a year ago) and the sustained rainfall since late January this year has more than offset our successes reducing water levels through mechanical evaporation and authorised releases of treated water within prescribed limits,” said 29Metals' MD and CEO Peter Albert.
“29Metals’ objective will be to ensure the period of suspension is as short as possible. Planning for the restart will start almost immediately and we will use this pause in operations to build back stronger and set Capricorn Copper up for the future.”
During the suspension, 29Metals will undertake targeted exploration activity to test new mineralised zones identified last year east and evaluate the potential to produce a cobalt byproduct.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
