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Drought may force China Molybdenum to cut output at Northparkes copper-gold mine

China Molybdenum Co. Ltd. might have to cut production in its Northparkes copper and gold mine in New South Wales, Australia, within nine months if drought conditions persist, the Australian Financial Review reported Sept. 20, quoting the company's CEO Hubert Lehman.

Lehman said that severe drought and low flows in the Murray-Darling river system have forced the mine to rely mostly on groundwater, and this will not be sustainable beyond June 2020 if the drought continues.

Lehman noted that despite the company owning the highest security water entitlements in the area, residents would have to be prioritized over the mines.

The company reported in March that its copper metal output from the Northparkes mine fell 8.5% to 31,931 tonnes.