CUDECO DIGS UP WORLD'S RICHEST ORE

Written on the 4 July 2014 by Nick Nichols

CUDECO DIGS UP WORLD'S RICHEST ORE

COPPER miner CuDeco has uncovered what it believes is among the highest grade copper ore known to exist in the world.

The Gold Coast company, which continues to mine and stockpile ore ahead of crushing at its Rocklands project in north-west Queensland, says the discovery has been made in what it describes as the “extremely rich supergene zone” that is unique to the central Las Minerale ore body at Rocklands.

Mining at Rocklands has reached the top of the supergene zone, which has uncovered  “unique and exciting  supergene copper species”,  says CuDeco in a statement to the ASX today.

CuDeco, which is headed by Wayne McCrae (pictured), is planning to start digging a second mining pit by the end of the year as the company closes in on creating a stockpile of one million tonnes of ore since mining began late last year.

The ore is being stockpiled while construction of the crusher is being completed, and the company is targeting a stockpile of three million tonnes ahead of production starting.

CuDeco says it has uncovered a number of supergene copper species with copper concentrations of between 75 and 94 per cent.

Further testing is needed to determine the species of copper, but the company says the finds have effectively confirmed that it has underestimated the copper grades during sampling.

The company says it is surprised at the size of some of the coarse native matter being mined, which has moved it to upgrade the processing plant under construction.

CuDeco  says the copper has sufficiently high grade that it may generate direct shipping ore product, which is copper ore that does not require crushing.

The company says it is progressing plans for ore shipments from its debut mining operation, which has been focused on high-grade native copper.


Author: Nick Nichols

Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter