Cobar Consolidated Resources (CCR) has been given the go ahead for the development of its Wonawinta silver mine.
The ‘pure’ silver and lead mine, which is located 80 kilometres south of Cobar, will be the largest silver mine in Australia and amongst the top 15 silver producers in the world.
Approval was given by the Western Region Joint Planning Panel at meeting in Cobar yesterday evening.
Wonawinta has a projected mine life of between seven to 12 years with plans to commence production via shallow open cut mining in December this year.
The project has an indicated and inferred resource of 51 million ounces of silver as well as a probable ore reserve of 14 million ounces of silver.
CCR plans to produce 2.5 million ounces of silver annually.
According to company secretary Trevor Shard, the project will include a processing plant and would create between 60 and 80 full time jobs and generate around $24 million for the local community.