New Century Resources on track for zinc mine restart

Company News

by Kathy Skantzos

Zinc miner New Century Resources (ASX:NCZ) says it is on track for the operational restart of the Century zinc mine in Queensland, after announcing results of its feasibility study during the quarter.

The miner says permits are in place and works are underway at the mine, with operations scheduled for Q3 2018.

It is estimated the mine will produce approximately 507,000 tonnes of zinc concentrate per year from the mine.

The company anticipates the restart of the mine will generate more than $1.7 billion in free cashflow over the initial 6 years of the mine’s operations.

The miner has an expansion feasibility study planned to assess the potential for near term development of the insitu mineral resources.

Shares in New Century Resources (ASX:NCZ) closed 2.57 per cent lower yesterday at $1.32.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.