The owners of the Mount Cuthbert mine in North West Queensland have reached an agreement to take on the assets of failed copper miner CuDeco.
A spokesman for receivers FTI Consulting confirmed a deal had been reached, but said details were not yet available.
Operations at CuDeco’s Rocklands copper mine at Cloncurry have been suspended since August 2018.
The company went into liquidation in May after a deadline passed to execute a Deed of Company Arrangement which included a proposal to merge the business as a new entity with Mt Cuthbert Resources.
Mt Cuthbert Resources general manager Stewart Robinson told the Townsville Bulletin this week that, if the sale proceeded, it would take nine to 12 months of work before Rocklands became operational.
He said Rocklands was expected to employ about 100 staff with another 50 to 60 contractors.