Signs Mining Services Contract with Thiess
Brisbane, Dec 7, 2021 AEST (ABN Newswire) - Copper producer Austral Resources Australia Ltd (
ASX:AR1) is pleased to announce the signing of a mining services agreement with Thiess.
Thiess is bringing its deep experience, technical expertise and focus on safe, reliable and productive operations to create value for Austral. The contractor is mobilising its fleet onsite with the intention to commence mining in early January 2022.
Austral's Chief Executive Officer, Steve Tambanis, commented:
"Austral is pleased to be partnering with Thiess, a leading mining services provider with superb mining experience and capabilities. They bring a commitment to safe and innovative mining practices, providing certainty of delivery in the development of our new Anthill mine. Thiess is currently mobilising its fleet onsite and preparing site infrastructure. It plans to commence earthmoving in early January and will directly employ 70 people from January 2022.
Austral is on track to achieve planned copper production of 10,000tpa commencing mid-2022 over a four-year period.
Exploration and development activities are currently being significantly expanded with the goal of fast-tracking discoveries. We look forward to further update shareholders as we prepare to commence maiden production at Anthill and begin exploration and development activities."
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About Austral Resources Australia Ltd
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
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