New Century Resources Limited mounded their first zinc concentrate for export. This morning the company announced the initiation of zinc concentrate stockpiling in its concentrate storage facility at Karumba Port.
It’s the first time that the NCZ’s Century Mine is utilizing the Karumba Port facility for storing zinc production since 2016. But how did these zinc concentrate reach the facility? It’s through a slurry pipeline that connects the mine and Karumba port. The company transfers them in semi-liquid form through a 304 km underground slurry pipeline for shipping to smelters across Europe, Australia and Asia.
In the announcement to ASX today, the company told that following filtering, dewatering, and stockpiling of saleable concentrate at Karumba facility, it is anticipated that company will receive first revenue from the sale of concentrate in September quarter 2018.
These zinc concentrates are the result of NCZ’s Century Mine Project located at Lawn Hill in Queensland, Australia. Century is one of the largest zinc mine in the world which processes and produces around 475,00tpa zinc concentrate and 50,000tpa lead concentrates at Lawn Hill, 250km north-west of Mount Isa in the Lower Gulf of Carpentaria. Well, the operations at Century zinc mine were ceased in early 2016 due to care and maintenance but the mine is back in action now. This comes after the miner today announced the first zinc concentrate stockpiled for shipment at New Century’s Karumba facility. The company also confirmed the operation suitability of the concentrate slurry pipeline for the transport of zinc concentrate from the Lawn Hill mine site to the Port.
The company’s most recent acquisition was of Century Bull Pty Ltd with a transaction value of $113.54 and the deal was completed on October 02, 2017.
It looks like the pipeline works as the stock jumped 4% to $1.030 on 19 September 2018 (2:45 PM AEST). The stock has seen a performance change of -3.41 over the past one year. It has been observed that the stock performance of $498.93 million company has slashed down by 24.14% in the previous three months.
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