New Century Resources has secured a $14 million cost reduction for the rehabilitation of the Century zinc mine in Queensland.
The reduction is understood to be the first of its kind for an operating mine in Queensland, according to New Century.
Its estimated rehabilitation cost now stands at $184 million, with New Century expecting further reductions to roll in as rehabilitation activities continue.
The result followed New Century’s submission of a new rehabilitation cost application to the Queensland Government’s Department of Environment and Science in late 2019.
New Century managing director Patrick Walta said the cost reduction agreement was a fantastic achievement for the company and a demonstration of its strategy to provide for material progressive mine rehabilitation.
“The company is already planning its next submission and looks forward to making further reductions over the coming years as our economic rehabilitation activities progress,” Walta said.
New Century has steadily progressed with the clean-up of its existing tailings and evaporation dams, with the material transferred back into the original open pit as part of the company’s tailings reprocessing operations.
Rehabilitation has been a focus area at the Century mine, with former owner MMG also making significant progress worth $70 million in this area prior to the transfer of ownership.
New Century has shipped half a million tonnes of zinc concentrate since restarting the operation in late 2018.