New Century Resources Limited (Attila Resources)
New Century Resources Limited (Attila Resources)
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The high standard of its mine rehabilitation strategy has helped Australian zinc miner New Century Resources achieve a significant reduction in the amount of its financial guarantee to the Queensland state government.
After extensive expert review, the state Environment Department has agreed to reduce NCZ’s Estimated Rehabilitation Cost liability by $A14.1M to $183.9M. Under recent legislation, the ERC requires miners to provide financial coverage for the estimated costs of future rehabilitation.
New Century Resources has marked the 500,000t production milestone at its Australian zinc concentrate operation by locking in a $US1.20/lb effective floor price for future output.
The FY21 zinc price hedging, via put contracts, guarantees NCZ the floor price for 100% of the Century mine's March qtr and 50% of June qtr production. The company retains full exposure to further zinc price increases.
One of Australia’s largest independently owned/operated transport/logistics companies Centurion has won a $A25M multi-year Century Mining contract to provide logistics support for its Century Mine and Karumba Port facilities in Australia’s N Queensland.
Strong operational cash-flow from its Century zinc tailings retreatment operation in Qld has enabled Australian miner NCZ post operating cash margin of $A12.8M and adjusted EBITDA of $13.2M for the Sept qtr (Q1FY21).
Total zinc metal production was 33,633t, compared to 34,363t in the previous period, with production growth tempered by ball mill circuit mechanical issues, since rectified, and a 4-day planned major maintenance shutdown. AISC rose to $US0.96/lb (Q4FY20: $0.89/lb).
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.