Rex Minerals has announced new government approvals for copper mining tenements on the Yorke Peninsula in South Australia.
The Hillside copper project has undergone 6.5 years of exploration and 3.6 years of community consultation and regulatory review, and the news has been heralded as a major milestone by managing director Mark Parry.
“This is an important outcome for Rex and I am pleased that Hillside is one step closer to becoming a producing mine,” he said.
Parry said Hillside contains Australia’s largest open pit copper reserves, located near Ardrossan, which will create jobs and further economic benefits for the local community.
Once completed Hillside is expected to deliver an average of up to 100,000 tonnes of copper equivalent production per year over it’s more than 15 year mine life.
Parry also said the project will bring in additional power and fresh water infrastructure to the region.
Rex is now considering the terms of the offer and conditions laid down by the South Australian government, and once accepted Rex will be able to proceed with site development.
Hillside has already received environmental Commonwealth consent, as well as state approvals for road network and port upgrades at Ardrossan.
It is understood that construction of the Hillside processing plant will begin later in 2015, subject to financing and timely progress of the final feasibility study.