- Copper explorers Austral Resources (AR1) signs on mining services contractor, Thiess to develop and mine copper ore at its Anthill mine in the Mt Isa region of Queensland
- The companies have signed off on a three-year contract, with a total value of $95 million
- Theiss is reportedly mobilising its fleet to site and preparing site infrastructure with plans to start earthmoving in early January
- Austral is aiming to achieve copper production of 10,000 tonnes per annum at the project by mid-2022 over a four year period
- On market close for the day, Austral is up 3.13 per cent and trading at 16.5 cents per share
Austral Resources (AR1) has partnered with mining services contractor, Thiess, to develop and mine copper ore at its Anthill mine in the Mt Isa region of Queensland.
The mine reportedly has an Ore Reserve of 5.06 mega tonnes at 0.94 per cent copper.
Austral is aiming to achieve copper production of 10,000 tonnes per annum at the project by mid-2022 over a four year period.
The companies have signed off on a three-year contract, with a total value of $95 million.
Theiss is in the process of mobilising its fleet to site and preparing site infrastructure, with plans to start earthmoving in early January and begin employing 70 people.
Austral’s CEO Steve Tambanis said the company is pleased to be partnering with Theiss which was selected for its ability to deliver value through competitive and sustainable mining services, its “excellent” safety record and strong focus on the local community.
“They bring a commitment to safe and innovative mining practices, providing certainty of delivery in the development of our new Anthill mine,” he said.
In an attempt to fast-track discoveries, AR1 is currently expanding exploration and development activities as it prepares to start maiden production at Anthill.
On market close for the day, Austral was up 3.13 per cent and is trading at 16.5 cents per share.