CuDeco ships first sulphide copper concentrate to China

17 October 2016 (Last Updated October 17th, 2016 18:30)

Australia-based mining company CuDeco has made its first shipment of sulphide copper concentrate to China.

Australia-based mining company CuDeco has made its first shipment of sulphide copper concentrate to China.

The shipment was sent from the Rocklands Copper Mine on 15 October from the Port of Townsville.

It consisted of around 4,635 wet metric tonnes (wmt) of sulphide copper concentrate and was shipped to Oceanwide International Trading, China.

A shipment of 1,000wmt of native copper was sent early this month and another shipment of 300wmt is planned for later this month. 

"We see the potential for an extension in the mine life and its capacity to deliver long-term benefits to the whole region."

CuDeco managing director Dianmin Chen said: “This delivery is an important milestone for CuDeco as we work towards the commencement of continuous bulk shipments from Rocklands, and with it a substantial increase in concentrate exports, bringing substantial cash flows to the company.

“Achieving Rocklands’ potential is our key focus ahead of the mine’s official opening later this month, and with exploration activity already recommenced, we see the potential for an extension in the mine life and its capacity to deliver long-term benefits to the whole region.”

It has now produced more than 2,500 dry metric tonnes of copper metal in both native copper and sulphide copper concentrate from Rockland mine. 

The firm is focused on copper-gold production in its early stage of operations. 

Meanwhile, CuDeco has been advised by China Minsheng Banking Corporation that the requested extension of  repayment terms of the company’s existing bank facilities is at the final stage of the approval process.

CuDeco is confident that the refinancing will be approved shortly.