New Century Resources Limited (Attila Resources)
New Century Resources Limited (Attila Resources)
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Australian developer NCZ has advanced towards resuming operations at the Century zinc mine in N Qld with the reinstatement of annual dredging of Karumba port on the Gulf of Carpentaria.
NCZ is funding the $A6.8M program to restore a 3.2m channel to enable transhipment of zinc concentrate to bulk carriers offshore. The work will also support other local businesses.
The 60-day suction dredging program is due for completion in July, ready for first mine production in August.
Strong institutional support for the restore the Century mine in N Qld, Australia as a significant world zinc producer has seen its 100% owner NCZ raise $A40M through a significantly oversubscribed placement.
MD Patrick Walta says the funds allow NCZ to complete the restart and ramp-up of the mine in 2018.
Major institutional shareholders have strongly backed the placement at $1.15ps, a 9.1% discount to NCZ's Apr 27 close.
New Century has signed the fifth long-term offtake contract for production from the Century zinc mine in Qld, Australia.
The long-term agreement with London-based commodity trader Concord Resources takes NCZ's contracted sales to about 80% of scheduled production from the recommissioning of the giant mine.
The company says it's continuing to negotiate offtake agreements aimed for 90% of production while progressing the mine development.
NCZ has lined up buyers for 75% of the first 3.5 years of production from the revival of the Century zinc mine in N Qld, Australia by signing an offtake agreement with global commodity trader MRI Trading.
MRI will also advance a $US15M unsecured debt facility structured as a prepayment for zinc concentrates.
It's the fourth offtake contract executed by NCZ under its tender offering for up to 1.5Mt of zinc concentrate, and is still progressing further agreements targeting 90% of the mine's planned production.
New Century has awarded CIMIC Group company Sedgman a $A40M EPC contract to refurbish and recommission the process plant and port facilities for its Century zinc project in N Qld, Australia.
It's also named Ausenco preferred bidder for the $1.7M contract to refurbish and recommission the project's 304km slurry pipeline.
With $42M in other capital works contracts to come, New Century says it remains on track for operations to commence in the Sept 2018 qtr.
New Century awards further works contracts to keep its refurbishment and re-establishment of the giant Century zinc mine in Australia on track for production in the September quarter.
NCZ and major zinc concentrate processor Nyrstar have executed a 5-year agreement for 600,000t zinc concentrate from the restart of mining at the Century zinc project in N Qld.
The agreement is the third major offtake contract signed for the 507,000tpa project, where production is scheduled to start in the Sept qtr.
(LITIGATION) New Century Resources and Nyrstar, the world's second-largest end user of zinc concentrate, have agreed to forget all about a 10-year-old contract row after signing a new offtake agreement.
Global multi-metals business Nyrstar has done a 5.5-year offtake deal for 600,000 dry metric tonnes (dmt) of zinc concentrate from Aussie New Century Resources’ reviving Century Zinc Mine in Queensland, Australia.
New Century has named leading Australian contractor National Pump & Energy alongside international specialist Paragon Tailings to conduct hydraulic mining at its Century zinc tailings deposit in Qld.
NPE and Paragon, named after a competitive tender process, proposed a 2-duty, 2-standby arrangement using track-mounted, remote controlled water cannons for Century's initial 8Mtpa. Two more duty cannons will be added to ramp up to the scheduled 15Mtpa.