Jan 03, 2017

Byrnecut wins $300m Capricorn Copper mining contract

Byrnecut wins $300m Capricorn Copper mining contract

Byrnecut Australia has won a $300 million, five-year mining contract for the Capricorn Copper operation, 120km north of Mount Isa.

Capricorn Copper managing director Carl Hallion said the mining contractor would be mobilising from this month as activity ramped up at the mine.

“There is an increase in activity with various contractors and consultants coming for pre-refurbishment visits, prep work, surveys and estimations, for example,” he said.

Lighthouse Minerals and EMR Capital took control of the Mount Gordon operation from former owner Aditya Birla in October 2015 and are restarting it as Capricorn Copper.

A $110 million capital program is under way at the site, which has been on care and maintenance since April 2013.

Mr Hallion said Capricorn Copper was also progressing EPCM contracts with Ausenco to commence work on plant modifications and other refurbishment works were also under way.

“We remain on track to ramp up our recruitment drives for the site team from mid to late February,” he said.

Concentrate production is expected to resume in late 2017 and the new owners are aiming to process 1.6Mtpa-1.7Mtpa of ore at head grade of just over two per cent copper over a mine life of at least 10 years.

The operation is expected to support a workforce of about 220 full-time staff.

Capricorn Copper green light for $110m restart