Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Australia’s biggest gold miner Newcrest Mining Ltd said it expects its flagship Cadia mine to return to full production rates by the end of June.
The miner said it had begun depositing tailings into the Cadia Hill open pit over the weekend, after receiving approval from the New South Wales Department of Planning and Environment last month.
Newcrest restarted processing at Cadia last month after halting operations due to damage to a tailings dam wall in early March.
In April, Newcrest cut full-year gold production guidance to between 2.25 million and 2.35 million ounces, down from 2.4 million to 2.7 million ounces previously, mainly due to damage at the tailings facility.
Newcrest said it continues to review and determine the cause of the Northern Tailings Facility embankment slump.
Reporting by Nicole Pinto in Bengaluru; Editing by Richard Pullin.
