Global  

“News neutrality by unbiased coverage”
One News Page
> >

OZ Minerals extends Prominent Hill to 2030 with 50% increase in underground reserves

Proactive Investors Monday, 12 November 2018
OZ Minerals Ltd (ASX:OZL) has increased its Prominent Hill underground proved reserve to 40 million tonnes at 1.7% copper equivalent, representing a 50% increase. The updated ore reserve will extend Prominent Hill’s life to 2030 with a further 80 million tonnes of underground resource outside of the reserve. The South Australia-based copper producer also released the initial inferred resource for the Fremantle Doctor deposit, posting an estimated 104 million tonnes at 0.7% copper and 0.5 g/t gold. Fremantle Doctor’s initial reserve, along with scheduled 2019 updates to Carrapateena's overall mineral resource and ore reserve, will provide OZ with further optionality in life-of-province planning. ‘Further de-risked life-of-mine planning’ OZ managing director & CEO Andrew Cole said Prominent Hill had again demonstrated the ability to extend mine life through conversion of its extensive resource base while also reliably delivering production and costs to guidance. He said: “A 50% increase to underground proved reserves has materially increased confidence in the Prominent Hill ore body and further de-risked life-of-mine planning. “With an estimated 80 million tonnes of underground mineral resource outside of the ore reserve, we will continue our drilling program to convert more material into reserves, with the aim of extending mine life year-on-year.” Processing at full capacity until 2023 OZ expects the underground production rate of 3.5-4 million tonnes per annum from 2019 to continue into 2030 with the current ore reserve after mining depletion. Stockpiles have grown by about 6% to 29 million tonnes, with copper metal up about 12% and gold metal up about 6%. Stockpile growth was due to higher volume and lower stripping from the open pit. Processing of stockpiled ore will maintain the plant at full capacity until 2023. Expansion studies progressing Cole said the company was also pleased to announce the initial inferred resource for Fremantle Doctor which lies just over 2 kilometres from the Carrapateena ore body. Carrapateena’s mineral resource and ore reserve estimates have been restated for 2018 due to limited drilling activity but the project’s deposits are expected to be updated in 2019. Cole said regarding the Fremantle Doctor initial resource: “This provides another valuable input into our life-of-province planning and will help inform our expansion studies that are currently progressing. “In addition to releasing an updated Carrapateena mineral resource estimate in Q1 2019, we are working on updated resource statements for West Musgrave, Antas, Pedra Branca and CentroGold, and an initial resource statement for Pantera.” OZ expects to progressively release the Carrapateena resource statements through 2019.
0
shares
ShareTweetSavePostSend
 
Credit: ABC 10 News | San Diego - Published < > Embed
News video: Hill and Woolsey fires for 250,000 to evacuate in Ventura and LA counties

▶ Hill and Woolsey fires for 250,000 to evacuate in Ventura and LA counties 02:27

The Hill and Woolsey fires forced 250,000 to evacuate from their homes, as flames threatened neighborhoods and spread through the night.

You Might Like


Recent related videos from verified sources

Three People Rescued From Mine [Video]Three People Rescued From Mine 02:02

Three people trapped 4,000 feet underground were rescued from a mine in West Virginia.

Credit: CBS4 Miami - Published

Trump Doesn't Think Federal Reserve Should Raise Interest Rates [Video]Trump Doesn't Think Federal Reserve Should Raise Interest Rates 00:32

According to Reuters, President Donald Trump continued his criticism of the U.S. central bank. Trump said it would be “foolish” if the Federal Reserve raised interest rates when it meets next week...

Credit: Wochit News - Published

Audiojack & Darius Syrossian underground house DJ set in The Lab LDN [Video]Audiojack & Darius Syrossian underground house DJ set in The Lab LDN 07:10

Darius Syrossian & Audiojack Live set. Every Friday we stream the world's best DJs http://bit.ly/LZ14yA Check out our quality worldwide sets here: http://bit.ly/14nWwHZ TRACK LIST Audiojack: 1/..

Credit: Mixmag - Published

Hill District Home Uninhabitable After 2-Alarm Fire [Video]Hill District Home Uninhabitable After 2-Alarm Fire 01:58

A family of four lost everything Sunday evening after a 2-alarm fire destroyed their Hill District home; KDKA's Pam Surano reports.

Credit: KDKA CBS 2 Pittsburgh - Published

Dollar Drops As U.S. Treasury Yield Curve Inversion Sparks Recession Fears [Video]Dollar Drops As U.S. Treasury Yield Curve Inversion Sparks Recession Fears 00:33

According to Reuters, the dollar fell broadly on Tuesday as U.S. Treasury yields slipped, feeding fears that the Federal Reserve could pause in its rate-hike cycle. On Wednesday, Federal Reserve..

Credit: Wochit News - Published

Former Forest Hill band director wants his job back [Video]Former Forest Hill band director wants his job back 01:36

Former Forest Hill band director wants his job back

Credit: WAPT - Published

Fed Chair Says Interest Rates Are Just Below Neutral [Video]Fed Chair Says Interest Rates Are Just Below Neutral 00:42

According to Reuters, the chair of the Federal Reserve held a press conference following a 2-day policy meeting. Federal Reserve Chair Jerome Powell said that interest rates are now just below neutral,..

Credit: Wochit Business - Published

Wall Street Rallies After Fed Chair Speech [Video]Wall Street Rallies After Fed Chair Speech 00:47

According to Reuters, US stocks are staging a rally after the Federal Reserve chairman issues some good news. Federal Reserve Chairman Jerome Powell said that their policy rate was just below neutral,..

Credit: Wochit Business - Published


Recent related news from verified sources

Azumah Resources granted trading halt with exploration results pending

Azumah Resources Limited (ASX:AZM) has material exploration results pending and has been granted a trading halt by the ASX. The halt will remain in place until...
Proactive Investors - Business

Wesdome Announces Interim Mineral Resource Estimate for Kiena Mine Complex and Continued Drilling Extends Kiena Deep A Zone Along Plunge

TORONTO, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) is pleased to announce the interim mineral...
GlobeNewswire - Press Releases

North American Palladium Signs Major Mine Development Contract; Strategic Review Process Concludes

TORONTO, Dec. 13, 2018 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL) (OTC PINK:PALDF) is pleased to announce that it has...
GlobeNewswire - Press Releases

Technology Metals test work improves purity of vanadium further

Technology Metals Australia Ltd (ASX:TMT) has received results from more metallurgical test work on samples from the Gabanintha Vanadium Project in Western...
Proactive Investors - Business


Tweets about this


Other recent news in Business

FEDERAL JUDGE rules health care overhaul unconstitutionalFUND GROUPS ACCUSED OF BEING ‘TOO COSY’ WITH COMPANY BOSSES
CALIFORNIA ALLEGES UTILITY FALSIFIED PIPELINE SAFETY RECORDSCourt clears way for reopening VEDANTA copper smelter, Tamil Nadu government to appeal
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest