New Century Resources Limited (Attila Resources)
New Century Resources Limited (Attila Resources)
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Australian miner New Century Resources rules out a binding offer to acquire and revive Vale’s struggling Goro nickel and cobalt operation in New Caledonia.
Plans by Australian-based New Century Resources to take charge of Vale’s struggling Goro nickel and cobalt mine in New Caledonia have been sabotaged by issues with raising funds and bonding issues.
NCZ says it will not proceed with a binding offer for the acquisition of a 95% stake in Vale Nouvelle-Calédonie, allowing its exclusive access agreement with the Brazilian giant to lapse.
With its tailings retreatment operation already sitting among the top 10 global zinc producers, Australian miner New Century is forecasting further production growth to 140,000-160,000t zinc in concentrate at AISC of $US0.65-0.75/lb in the year to June 2021.
The FY21 guidance follows the record June qtr (Q4FY20) production of 34,363t at $0.79/lb at the mine 250km NW of Mount Isa in Qld.
Australian miner New Century Resources has achieved commercial production at its Century zinc tailings reprocessing operation in Qld after posting record June qtr (Q2) zinc metal production of about 34,500t, from 28,292t in the previous period. C1 costs also improved to about $US0.79/lb from $0.95/lb.
New Century completed the transition from contractor to full owner-operation of the hydraulic mining and processing plant.
New Century Resources eyes the potential to transform Vale’s faltering Goro nickel project in New Caledonia into a long-term world-scale producer after being granted 60-day exclusivity to negotiate the acquisition of a 95% stake.
Australian-based miner New Century has been granted exclusivity to complete due diligence and negotiate the acquisition of a 95% stake in Vale’s Goro nickel and cobalt mine in New Caledonia.
Vale announced plans in Dec 2019 to sell the operation it had commissioned a decade earlier.
New Century, which operates the Century zinc tailings project in Australia, says it plans to transform Goro into a sustainable, long-life major global supplier of nickel and cobalt.
Nickel-gold miner IGO is buying an up to 18.4% stake in fellow Australian zinc miner/metals explorer New Century Resources by taking up to $A27M ($US17.12M) of a $51.1M New Century capital raising at $0.15cps.
The 2 company have also agreed to a strategic collaboration spanning New Century's existing tenements, or other mining assets, primarily within the clean energy metals sector.
New Century is on target to expand production capacity at its Australian mine to 12Mtpa over the next two quarters after delivering an on-guidance 28,123t zinc metal at C1 costs of $US0.96/lb payable metal including treatment charges in the Dec qtr (Q2FY20).
The result continues its consistent improvement in production and costs, and the company expects a further step change is anticipated in the March qtr from commissioning of the rougher circuit upgrade.
Its March qtr guidance is 29,000-35,000t zinc metal at $0.85-0.95/lb.
Australian miner New Century is predicting more improvements to metal production and cost reduction at its Century zinc project at Lawn Hill, N Qld in the coming 3 months after achieving operational cashflow positive status for the first time in Sept.
Century’s total operational costs (C1 costs plus corporate, interest and royalty expenses) improved to $US0.99/lb in Sept, against a 3-year low zinc price of $1.05/lb.
Australian miner New Century Resources predicts more after lifting Sept qtr (Q3) zinc metal production from its Century mine at Lawn Hill in N Qld by 28% to a record 26,171t in 53,500t concentrate @ 49% Zn, from the June qtr’s 20,450t (42,500t @ 48.1%). C1 costs improved 18% to $US1/lb.
The results were in line with guidance, and NCR maintained Dec qtr forecast at 27,000-33,000t at $0.87-0.98/lb.
NCR says upgrades to the processing plant cleaner circuit lifted monthly zinc metal delivery in Sept to 10,013t @ 52%.