Proactive Investors reported that Redbank Copper has outlined the company’s key initiatives to advance its high grade copper project development towards meeting the target commencement of mid 2010 for copper cathode production.
The company, an Australian based ASX listed resource company is focused on the development of the Redbank Copper Mine in the North East of the Northern Territory. As part of the advancement, Redbank is finalizing agreements for the design and construction of a Solvent. Extraction Electro Winning plant with Queensland based management and engineering experts Calder Project Services.
Mr Bruce Morrin MD of Redbank said that the USD 8 million plants was a key component in the development of the oxide processing stream for the project.
Mr Morrin said that “Initial oxide ore processing is proposed to commence at a throughput rate of 150,000 tonne per annum producing 2,100 tonnes of LME grade A 99.99% copper cathode per year. Ultimately we will aim at doubling cathode production.”
He said that the company was liaising with service providers for the design, procurement and constructions and commissioning of the plant with construction due to start in April 2010 ahead of proposed commissioning midyear.
A recently released mine study outlined the economic viability for copper concentrate production at initially a throughput of 300,000 tonnes per annum of sulphide ore producing 5,500 tonnes per annum of copper in concentrate and increasing to 500,000 tonnes per annum throughput producing 8,700 tonnes per annum copper in concentrate.
Redbank has also moved forward with the appointment of Western Australia based project management group MSP Engineering. The engineering company, a leader in the field of engineering studies, design, construction and project management of minerals processing facilities for mining companies will undertake Project management for Redbank and oversee development from design, commencement and through to commissioning.
Redbank is finishing up its Environmental Impact Statement which is a key milestone in the approval process and will cover environmental improvements including water management as well as addressing the future mining and processing of oxide and sulphide ores. Redbank is aiming to have all environmental and other approvals obtained by early 2010. The project is located in the Redbank Mineral Field in the NT, where the Company holds a substantial ground position. The region hosts significant economic copper mineralization and is highly prospective for copper, cobalt, phosphate, manganese and uranium.
Redbank acquired the copper mine in 2005 and had been generating some cash flow from the treatment of high grade oxide stockpiles to produce a high quality concentrate.
(Sourced from Proactiveinvestors.com)
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