Queensland copper company CuDeco plans to restart mining operations from tomorrow as it ramps up production towards nameplate capacity at its Rocklands mine near Cloncurry.
Interim Chairman Peter Hutchison said corporate distractions had dominated shareholder perspectives for too long.
“I am pleased to say this is almost behind us now, and with mining commencing imminently I am confident we are finally heading into a period of robust performance.
“The recent appointment of two very capable individuals in Mark Gregory (chief executive officer) and Jiang Gongyang (chief operating officer) to oversee and guide Rocklands from this point forward, is already having a positive impact at site, and I anticipate we will see the operational and financial benefits flow through very shortly.”
Last month CuDeco was directed to suspend mining operations at Rocklands after a Department of Natural Resources & Mines audit concluded that its safety and health management system did not support current activities, personnel and processes associated with the site, and therefore did not meet the requirements of the Mining and Quarrying Safety and Health Act 1999 (MQSHA).
It came amid a flurry of change in the CuDeco leadership ranks – with managing director Dr Dianmin Chen’s resignation date brought forward. Dr Noel White also resigned as CuDeco chairman and as a director of the company.
CuDeco says systems and procedural reviews designed to improve recent performance have commenced and processing is under way.
Mr Gregory described Rocklands as a fantastic project with every reason to be a highly successful producer.
“Since my appointment I have met with senior Rocklands management and staff, and I am impressed with both their capability and commitment to the project,” he said.
“With the right support and direction, I see no reason for the project to not only thrive but grow considerably.
“We have the right commodities at the right time and the assets and infrastructure in place to exploit them. Our role now is to convert this into revenue and earnings for the benefit of all stakeholders.”
Notable activity at Rocklands:
First of two sulphide concentrate shipments for March have been shipped; 3704 (WMT) at 24 per cent copper and 3.74 g/t gold.
Mining contractor completing site induction requirements and plans to commence mining operations on March 15.
Crushing plant capabilities are being increased to ensure nameplate capacity can be maintained, with the delivery 200tph mobile crushing plant, expected on site shortly.
Recent operations suspension by DNRM was lifted on February 24.
Review of Health and Safety Management plan continues, with an external audit commissioned by CuDeco scheduled for March 2017.