Port of Townsville Limited has welcomed the news of the official opening of Capricorn Copper’s mine in north west Queensland.
Port of Townsville Acting Chief Executive Officer Claudia Brumme-Smith said that the news of Capricorn Copper’s first production run of high grade quality copper concentrate was great news.
“I congratulate all involved at Capricorn Copper that have been part of the mine’s refurbishment and restart,” said Ms Brumme-Smith.
“The Port of Townsville is expecting the first shipment of copper next month, which we understand will be the start of more than $2.5 billion of exports from the mine over its initial 10-year life span,” she said.
“This project has come at a very good time with the prices of copper up by about 30% since November last year.”
“Capricorn Copper’s restart has had a positive impact for the Northwest minerals province, and the link to Townsville provides the infrastructure and resources for Capricorn Copper to access its international customers.”
The Capricorn Copper mine is one of Australia’s largest copper development projects located in a prolific base metals region, 125km north of Mt Isa in North West Queensland. Capricorn Copper’s Board approved the capital program to commence the Refurbishment and Restart Project (RRP) in November 2016, following the completion of a detailed feasibility study, which outlined the optimal strategy to recommence operations on a sustainable basis.