Nov 08, 2017

MMG marks project milestone

MMG marks project milestone

First production of finished zinc concentrate left MMG’s Dugald River mine, 65km north-west of Cloncurry, today.

The milestone was celebrated during the official site opening attended by MMG chairman Guo Wenqing and chief executive officer Jerry Jiao (pictured above).

“I’d like to take this opportunity to recognise and thank all those who have played their part in the successful commissioning of the Dugald River project,” Mr Jiao said.

“I congratulate MMG staff and contractors for their hard work in delivering the US$550 million project – under budget and ahead of schedule.”

In his speech delivered at the event, Mr Jiao made special mention of the support MMG has received from the Queensland State Government, the communities of Cloncurry and the North West and major shareholder, China Minmetals Corporation and China Development Bank who helped financed the project.

In attendance at the opening were senior representatives China Minmetals Corporation (CMC) and China Development Bank (CDB) as well as the State Member for Mount Isa Robbie Katter, Cloncurry Mayor Greg Campbell, representatives from Native Title holders the Kalkadoon, and other key business partners and community members.

“The Dugald River deposit was originally discovered in 1870s,” Mr Jiao said.

“I’m very proud that MMG has finally brought this challenging project to production.

“By taking the time to understand the characteristics of this complex deposit, we have delivered the right plan and invested at the right time. We remain positive about the long-term fundamentals for zinc and Dugald River has come into production at a time of tightening global supply and rising prices.”

Dugald River will process an average 1.7 million tonnes per annum of ore to initially produce 170,000 tonnes of zinc in concentrate, plus by-products. When fully operational, the Dugald River mine will be a top-10 global zinc mine.

 

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