Base metal development company New Century Resources (ASX:NCZ) has completed a transaction to acquire a 100 per cent interest in the Century Zinc Mine in Queensland.
The acquisition of the final 30 per cent interest in the mine was proposed via purchase of Century Bull which is a mining services company.
New Century shareholders voted to approve the acquisition last Friday the 23rd of February with 92 per cent of proxies voting in favour of the deal.
The company says the Century mine could become one of the top zinc producers in the world and also in the lowest cost quartile globally.
Shares in New Century closed 0.71 per cent lower yesterday to $1.39.