China Molybdenum Co. Ltd.and joint venture partners Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. approved a new block cave mine at the Northparkes copper-gold joint venture in New South Wales, Australia.
Named E26 Lift 1 North, the mine will require an investment of more than A$200 million over 3.5 years. Construction will start this month, and full production is expected in mid-2022, according to a Jan. 8 release.
China Molybdenum said the project will produce about 40 million tonnes of ore over 10 years and is expected to employ up to 180 workers.
Northparkes has approved development consent to mine until 2032.