$US45m restart for Century

NEW Century Resources has signed a $US45 million debt facility to fund a 2018 restart of the Century zinc mine in North West QLD.

“This facility will allow the team to expedite its activities for the targeted restart of the Century zinc mine, with the funding used for the commissioning process and achievement of first production in 2018,” New Century executive Evan Cranston said.

During its 16 years of operation, the mine – previously owned by MMG – was one of the world’s largest zinc operations, producing an average of 450,000 tonnes per annum (tpa).

New Century said a restart feasibility study for the project remained on track and is targeted for completion in November.