ACN. 000 317 251
MARKET RELEASE 29 July 2016
Rocklands plant's 1st native copper production delivered to port
Highlights:
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Native copper concentrate (100 tonnes) produced from Rocklands processing plant
transported to Port of Townsville
Queensland copper producer CuDeco Limited (ASX:CDU) announced today another new milestone for its flagship Rocklands Operations, with the first truckload of native copper concentrate produced from the new processing plant at its mine site near Cloncurry has been delivered to the Port of Townsville en route to its customer in China.
The native copper concentrate will be stored at the North Queensland port prior to its transportation via ship to Zhapu Port, China, under an offtake agreement with China Oceanwide International Investment Co. (refer ASX announcement dated 21 June 2016).
Preliminary analysis has indicated the grade of these first shipments of native copper concentrate to be exported is 80% copper.
CuDeco remains on track to deliver the first shipment of sulphide copper concentrates in late September or the first half of October to the export market, as previously announced.
"Today is another important occasion for all associated with the Rocklands project, with the first truckload of native copper concentrate produced from the Rocklands processing plant transported to the Port of Townsville. This will generate valuable cash flow for CuDeco, which will increase as we ramp up towards the export of sulphide copper concentrates." said CuDeco's Managing Director, Dr Dianmin Chen.
"We are also pleased with the quality of the native copper concentrates, which are considered excellent results in the early production ramp up phase and are expected to improve once the plant reaches optimized design performance levels. We look forward to the first shipment of sulphide copper concentrates as we continue the process of ramping up towards full production and generating value for shareholders."
On behalf of the Board.
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Unit 33, Brickworks Annex, 19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288 Email: [email protected]
First truck load of native copper concentrate leaving Rocklands for Townsville
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