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Oz Minerals extends Prominent Hill mine life to 2030

The mine life of Oz Minerals’ Prominent Hill copper-gold operation in South Australia has been extended until 2030 following a 50 per cent increase to underground Proved Reserves.

The 2 per cent increase in underground ore reserves after mining depletion has extended the Prominent Hill mine life by a year, enabling the expected underground production rate of 3.5-4.0Mtpa from 2019 to continue into 2030.

The Adelaide-based miner today released updated Mineral Resource and Ore Reserve estimates as at 30 June 2018 for Prominent Hill and an initial Inferred Resource for Fremantle Doctor as at 12 November 2018.

Underground Ore Reserve tonnes and contained metal at Prominent Hill remain in line with the previous year, with open pit and underground mining depletion partially offset by increases in underground Ore Reserves. Improved geological confidence from diamond drilling activity through the year resulted in Proved underground Ore Reserves increasing by 50 per cent to 28Mt.

Oz Minerals Managing Director and CEO Andrew Cole said the increase in underground Proved Reserves materially increased confidence in the Prominent Hill ore body and further de-risked Life of Mine planning. Read more…

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