Zinifex has announced that it will invest almost $35 million in its operations at Rosebery to improve efficiency and capacity at the company’s west coast Tasmanian mine.
According to the company’s chief operating officer Brett Fletcher, the major component of the investment would be for the installation of a new 1500 metre deep ventilation shaft and exhaust system for the mine, at a cost of approximately $30 million.
A further $3 million will be spent on a formal Feasibility Study evaluating options for future construction, optimisation and expansion of a new milling and concentrating facility.
“The success of our ongoing exploration program at Rosebery is yielding significant resource and reserve increases and has already extended the life of the mine to 2020,” he said.
“This gives us the confidence to make significant investments in our operations to the benefit of the mine, our people and the local region which will benefit from the increased economic activity,” he said.
According to the company, the upgrade will increase exhaust capacity by approximately 50%, substantially reducing working temperatures in the mine.