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Copper|Mining|PROJECT
Copper|Mining|PROJECT
copper|mining|project

Green light for 29Metals’ Gossan Valley project

4th December 2024

By: Creamer Media Reporter

     

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The A$112-million Gossan Valley project at the Golden Grove mine, in Western Australia, has been approved, ASX-listed 29 Metals reported this week.

The company on Tuesday published a feasibility study for Gossan Valley, which has been confirmed as the third mining front at Golden Grove with a pretax internal rate of return of 34%.

“With enabling investment for Xantho Extended largely complete, Gossan Valley is the next logical development option to optimise long-term value at Golden Grove.

“As the second highest grade ore reserve behind Xantho Extended, development of Gossan Valley optimises Golden Grove’s life-of-mine production profile and enhances overall production flexibility as a relatively shallow and independent mining front,” said CEO James Palmer, commenting on the investment decision.

Over an initial seven years, Gossan Valley will produce 4 000 t/y of copper and 20 000 t/y of zinc.

The study calculated a net present value of A$110-million.

Edited by Creamer Media Reporter

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