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Dugald River granted prescribed project status

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MMG Limited today welcomed the Queensland Government’s decision to grant the Dugald River zinc project the status of prescribed project. The decision is expected to significantly streamline administrative decisions and accelerate the development of the mine.

Chief Executive Officer Andrew Michelmore said the Company appreciates the strong support it has received from the Queensland Government.

“This decision will support MMG to deliver one of the world’s highest-grade zinc deposits at a time of tightening global zinc supply,” he said.

Mr Michelmore added that the project, which is still subject to financing, will contribute directly to the North West Queensland Mineral Province at a time when new investment is needed.

“The development of Dugald River is expected to provide significant employment, economic and revenue benefits to Cloncurry and Queensland over an expected mine life of more than 30 years.”

“MMG has a proud history in Queensland through the operation of the Century mine and we look forward to working with the state and local governments to make this project a success,” he added.

While the project is subject to final financing arrangements, MMG continues to advance with pre-production mine development and anticipates first zinc production in 2018.