NQM to Develop Copper-Tin-Silver-Indium Mining Project


North Queensland Metals Ltd. (NQM) announced that the company’s 100% owned Baal Gammon copper/tin/silver/ indium project in far north Queensland will proceed to development. The second of NQM’s operations, Baal Gammon is scheduled for commissioning in late 2009. NQM currently operates and owns a 60% share of the Pajingo gold mine.

The Baal Gammon project is expected to mine and process approximately 500,000 mt/y over a seven-year life producing around 20,000 mt/y of concentrate. Based on preliminary engineering the capital cost will be approximately $47 million. The next steps in the project are to proceed to finalize the mining contract and electrical power supply, develop detailed engineering of the processing plant, undertake pyrometallurgy and variability testwork and negotiate concentrate sales. According to the company, second- hand plant equipment is being considered, and will include plant obtained in the acquisition of Pajingo but not required there for the revised operation.

NQM said the project is well advanced at the government approval and community levels; a draft Indigenous Land Use Agreement has been lodged and is currently in the public comment phase of the approval process. Mining leases are expected to be granted in July or August 2008 following which construction can commence. While the project is expected to be commissioned in late 2009, there is potential to advance this time frame by reducing construction time.


As featured in Womp 08 Vol 5 - www.womp-int.com