New book ‘102 Things to Do with a Hole in the Ground‘ spotlights global reclamation projects
Stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems are told in a new book published this month.
Chinese firm MMG (HKG:1208) has decided to close Australia’s largest, and the world’s third largest, open cut zinc mine in 2016, reports ABC.
“Australia is seen as being increasingly expensive. A high dollar and a high operating cost environment coupled with lengthy approval and permit regimes is impacting project returns,” CEO Andrew Michelmore was quoted as saying yesterday in a speech to the Lowy Institute in Beijing.
Century mine, which began operations in 1999, is supposed to run out within the next 3 years. But the lengthy rehabilitation process, estimated to take 120 years, has already begun.
Located in north-west Queensland, the Century mine is expected to generate between 480,000 and 490,000 tonnes of the metallic element in the form of zinc concentrate.
The company said it is evaluating options to further utilize the existing infrastructure.
MMG is 72% owned by state-owned China Minmetals Group, which bought most of Australia’s Oz Minerals assets in 2009.
Comments
FIFO 1
Back in 2011 “Big Karl” was saying it would close in 2014, with a possible extension to 2016. All that has happened in the last 2-3 yrs is the latter part has come true.
Nothing new here at all……….