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Lighthouse/EMR-owned Capricorn Copper mine secures prescribed project status

The A$152-million Capricorn Copper property in Queensland, Australia, a joint venture between Lighthouse Minerals Holdings Pty Ltd. and EMR Capital Pty Ltd., received a prescribed project status by Minister for State Development and Minister for Natural Resources and Mines Anthony Lynham.

The mine, previously known as Mount Gordon, was put on maintenance mode in April 2013 by the previous owner, Aditya Birla Minerals Ltd.

The joint venture anticipates first ore production in October, with a four-month ramp-up to steady production, according to an April 20 statement from the Queensland government.

Capricorn Copper is expected to produce 30,000 tonnes per annum of copper in concentrate over an initial 10-year mine life.

Lighthouse Minerals and EMR Capital will spend an additional A$14 million over the next two years to explore for additional resources and extend the life of the mine.