China Molybdenum Co. (CMOC) and Sumitomo have started development of a new block cave mine at their Northparkes Mines joint venture 27 kilometers (km) northwest of Parkes, New South Wales. Ownership of the joint venture is 80% CMOC and 20% Sumitomo.
The new mine will be called E26 Lift 1 North. Investments will total more than $200 million over a 3.5-year period, with construction beginning in January and full production planned for mid-2022. The project will produce approximately 40 million metric tons (mt) of ore over a 10-year period.
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