The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Tuesday, 29th August 2006 (3957 views)

Work has begun at the newest mine in South Australia, Oxiana's Prominent Hill gold and copper mine.

On Friday (August 25th), the Oxiana board of directors formally approved the development of the A$775 million project, which is the second-biggest metals mine in the Australian state.

The workforce is expected to peak at 800 during 2007 and the mine will provide 400 permanent jobs for the duration of its ten-year life.

Likely output for the Prominent Hill mine will be at least 1.15 million ounces of gold and 842,000 tonnes of copper concentrate.

The minister for mineral resources development, Paul Holloway, noted the mine's importance to the region's economy.

"It's also further concrete evidence that South Australia is on the verge of a mining boom, which should see other important projects announced in the near future," he said.

Oxiana has extensive operations in Australia and globally and aims "to be Australia's next major mining house".

It also looks to maintain "the highest regard for social responsibility, community development, economic and environmental sustainability".

 

« Back to Gold News stories